Welcome aboard. Bell Potter put out a research report with a target price of 27c which could explain the volume.Yes, patience is indeed required. I wouldn’t call this a defensive stock. This is very much a cyclical stock in that housing and infrastructure are huge drivers of demand and large reductions in demand can have a devastating impact on profitability as prices drop (due to excess market supply) while utilisation also drops - a very bad combination.
BUT infrastructure spending is high with a strong pipeline to support the group and that is where they have invested. It’s worth noting that growth capex has been SPENT so they just need a few contract wins and profits + margins will increase.
As a reminder to everyone else, the latest NTA was 22c which is just below the SP today. The balance sheet is strong and a Uni-Span acquisition is likely to be accretive and result in broker upgrades - both brokers have not factored any M&A in their modelling. Plus, investors are being compensated with a very attractive yield which has scope for growth given the payout ratio (from memory) was only 40% while the present PE is extremely low. GLTAH
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Last
$1.14 |
Change
-0.010(0.87%) |
Mkt cap ! $342.0M |
Open | High | Low | Value | Volume |
$1.14 | $1.16 | $1.12 | $914.8K | 799.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 774 | $1.12 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.15 | 32384 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 774 | 1.120 |
2 | 18995 | 1.115 |
1 | 750 | 1.105 |
4 | 52363 | 1.100 |
1 | 10000 | 1.085 |
Price($) | Vol. | No. |
---|---|---|
1.150 | 32384 | 2 |
1.155 | 40000 | 2 |
1.160 | 33000 | 2 |
1.165 | 14583 | 2 |
1.170 | 1626 | 1 |
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