Polypipe Group

Polypipe Group manufacturers piping systems, water management solutions and ventilation systems for residential, commercial, civils and infrastructure, and public non-housing sectors in the U.K. and other selected markets. Co.'s segments are: Residential systems, which cover among other, above-ground drainage, storm water drainage, sewer drain, and water supply; Commercial and infrastructure systems - U.K., which cover among other, above-ground drainage, surface water drainage, storm water drainage, and land drainage and irrigation; and Commercial and infrastructure systems - Mainland Europe, which cover electrical ducting and conduit, irrigation piping systems, and pressure systems.
  • TickerPLP
  • ISINGB00BKRC5K31
  • ExchangeLondon Stock Exchange
  • SectorConstruction & Materials
  • CountryUnited Kingdom

Analysts

Philip Morrish

Value Indicator - UK Construction & Materials 04112019

Currently '(TM)Value Indicator - UK construction & materials' is a vallue analysis of the Construction & Materaisl super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 04112019

Currently '(TM) Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quuoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 21102019

Currently '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 21102019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with longer-term indicative target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 14102019

Currently '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Polypipe - Clear fit from bolt-on deal

The highly complementary £14m acquisition of Alderburgh expands Polypipe’s stormwater management portfolio offering, adding design and installation capabilities also. The earnings impact is modest but this serves as a further strengthening of Polypipe’s market position in the relatively robust infrastructure segment. Once wider UK economic uncertainties clear, we expect increased support for Polypipe’s share price.

Toby Thorrington

Polypipe - Premium positioning

Polypipe’s rating is currently slightly ahead of its sector, but this overlooks the company’s positioning in long-term growth segments, in our view. The FY18 trading performance was noticeably stronger in H2, though margin progression was constrained by short-term production inefficiencies in certain areas. Management provide a clear and consistent message regarding business focus under a refreshed, growth-oriented strategy.

Toby Thorrington

Polypipe - Strong Residential performance

Newbuild residential was the standout sector for Polypipe in FY17 with relatively subdued performance in Commercial and Infrastructure. Overall, underlying PBT and EPS from ongoing operations rose by 7.9% and 10.1% with full year DPS up by 9.9%. Our estimates are slightly lower adjusted for a non-core business disposal but recent share price weakness is overdone in our view.

Toby Thorrington

Polypipe - Sector variation, solid performance

Polypipe is benefiting from its leading position as a supplier into the new housebuilders who are expecting further growth. Other sectors are seeing different conditions but activity levels – including price increases – appear to be holding up reasonably well here also. Our estimates are unchanged and we retain the view that a sector premium rating is warranted.

Toby Thorrington

Performance at a premium

Polypipe has leading positions in the best performing UK building and construction segments and delivered robust financial performance in H117. The company is well set for this to extend in H2 and beyond and we retain our view that it should continue to attract a premium rating in its sector.

1 director bought

A director at Polypipe Group bought 100,000 shares at 351p and the significance rating of the trade was 80/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board m...

Philip Morrish

Value Indicator - UK Construction & Materials 04112019

Currently '(TM)Value Indicator - UK construction & materials' is a vallue analysis of the Construction & Materaisl super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 04112019

Currently '(TM) Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quuoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 21102019

Currently '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 21102019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with longer-term indicative target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 14102019

Currently '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities consolidating We remain constructive on global equities as the MSCI ACWI, ACWI ex-U.S., and EAFE indexes consolidate above their respective 200-day moving averages. On the other hand, the MSCI EM index is breaking below its 200-day moving average and is flirting with a breakdown below 56,000 support (local currency). Weakness within EM raises concerns that global equities may also succumb to weakness... see charts below. • Global equities consolidating. We take a look at the big picture, providing overviews on broad MSCI indexes (ACWI, ACWI ex-U.S., and EAFE)... see page 2. ...

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