Tyman (TYMN)

Sector:

Construction and Building Materials

Index:

FTSE 250

387.50p
   
  • Change Today:
    -3.00p
  • 52 Week High: 507.00
  • 52 Week Low: 265.00
  • Currency: UK Pounds
  • Shares Issued: 196.24m
  • Volume: 584,340
  • Market Cap: £760.43m

Liberum hikes target price on Tyman following 'very strong' trading update

By Iain Gilbert

Date: Wednesday 12 May 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Liberum raised their target price on door and window components manufacturer Tyman from 425.0p to 530.0p on Wednesday after last week's "very strong trading update" from the group.
Liberum hiked its earnings per share estimates by 11-12% on news that the year has started "very strongly" for Tyman, with like-for-like growth of around 14% versus 2019.

The investment bank stated Tyman management had stabilised the business and it was now benefitting from the "strength of its end markets", with a particularly solid performance from the US residential market as both the new build and repair, maintenance and improvement metrics experienced "excellent" activity levels.

While Liberum noted there was "clearly a risk" that as restrictions end and competing alternatives for expenditure open up that appetite for moving or improving starts to wane. It expects that activity will "hold up well" as housebuilding remains "quite subdued" by historic standards.

Looking forward, the analysts said Tyman's Capital Markets Day on 20 May will provide "an excellent opportunity" for management to update on progress on the group's strategic initiatives, with Liberum expecting to hear more on the firm's strategy to drive margin expansion, deliver growth and create "a more cohesive culture" to enable extraction of synergies.

"Tyman's shares have re-rated significantly as investors have shown an appreciation of improving margins and stabilising market share as well as an understanding of the strength of end markets. Their valuation is now stretched compared to recent history," said Tyman, which reiterated its 'buy' rating on the stock.

"However, Tyman's shares are quite cheap in comparison to the building materials sector. We find this anomalous given its leading market position in the US (with 40% share), high and rising margins and combination of internally driven improvement and exposure to the strongest markets."

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

 

Tyman Market Data

Currency UK Pounds
Share Price 387.50p
Change Today -3.00p
% Change -0.77 %
52 Week High 507.00
52 Week Low 265.00
Volume 584,340
Shares Issued 196.24m
Market Cap £760.43m

Tyman Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.08% above the market average88.08% above the market average88.08% above the market average88.08% above the market average88.08% above the market average
83.78% above the sector average83.78% above the sector average83.78% above the sector average83.78% above the sector average83.78% above the sector average
Price Trend
34.53% above the market average34.53% above the market average34.53% above the market average34.53% above the market average34.53% above the market average
Sector averageSector averageSector averageSector averageSector average
Income
52.44% above the market average52.44% above the market average52.44% above the market average52.44% above the market average52.44% above the market average
65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average
Growth
41.42% above the market average41.42% above the market average41.42% above the market average41.42% above the market average41.42% above the market average
36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tyman Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Aug-21 22-Apr-21
Paid 10-Sep-21 28-May-21
Amount 4.00p 4.00p

Trades for 15-Oct-2021

Time Volume / Share Price
16:35 460 @ 387.50p
16:35 1,999 @ 387.50p
16:35 93,606 @ 387.50p
16:29 22 @ 389.00p
16:29 66 @ 389.00p

Tyman Key Personnel

CEO Jo Hallas
CFO Jason Ashton

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