Spectris (SXS)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,047.00p
   
  • Change Today:
    -36.00p
  • 52 Week High: 4,094.00p
  • 52 Week Low: 2,380.00p
  • Currency: UK Pounds
  • Shares Issued: 111.60m
  • Volume: 307,729
  • Market Cap: £4,516.32m
  • RiskGrade: 107

Berenberg raises target price on Spectris

By Iain Gilbert

Date: Tuesday 03 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on precision instrumentation supplier Spectris from 2,240.0p to 2,425.0p on Tuesday, citing the group's strong balance sheet.
"Spectris has one of the strongest balance sheets in the sector and should finish the year with circa £75.0m net cash. With M&A increasing across the sector and share prices generally reacting positively to deals, we see this is a key upside catalyst should cash be deployed effectively," said Berenberg.

"Likewise, any divestments (eg Millbrook) to improve the portfolio mix could also be taken well, as could an easing of US trade tensions under a Democratic presidency. We do, however, look for further evidence that the group's self-help savings can translate into higher margins."

Berenberg said it upgraded Spectris to 'hold' back in March on the grounds that its more diversified business model, net cash balance sheet and portfolio reshaping optionality would stand it "in good stead" against the challenging backdrop.

In one sense, the German bank said it was right, with shares broadly flat since. However, it also pointed out that trading had been "less resilient" than it had expected.

"As a result, with near-term risks remaining elevated and shares trading at a premium to recent history, we believe it is still too early to turn buyers, despite several medium-term attractions," said the analysts.

Berenberg also highlighted that it continued to prefer creating a similar "Spectris portfolio" through Bodycote, Electrocomponents and Oxford Instruments - all of which it had issued with 'buy' ratings.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Spectris Market Data

Currency UK Pounds
Share Price 4,047.00p
Change Today -36.00p
% Change -0.88 %
52 Week High 4,094.00p
52 Week Low 2,380.00p
Volume 307,729
Shares Issued 111.60m
Market Cap £4,516.32m
RiskGrade 107

Spectris Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
53.02% below the market average53.02% below the market average53.02% below the market average53.02% below the market average53.02% below the market average
65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average
Price Trend
74.39% above the market average74.39% above the market average74.39% above the market average74.39% above the market average74.39% above the market average
18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average
Income
55.35% below the market average55.35% below the market average55.35% below the market average55.35% below the market average55.35% below the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average
Growth
50.39% below the market average50.39% below the market average50.39% below the market average50.39% below the market average50.39% below the market average
70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 4
Sell 0
Strong Sell 2
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Spectris Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Oct-21 13-May-21
Paid 12-Nov-21 30-Jun-21
Amount 23.00p 46.50p

Trades for 24-Sep-2021

Time Volume / Share Price
16:35 94,723 @ 4,047.00p
16:29 1 @ 4,055.00p
16:29 4 @ 4,055.00p
16:29 1 @ 4,055.00p
16:29 50 @ 4,055.00p

Spectris Key Personnel

CEO Andrew Heath
CFO Derek Harding

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