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

Berenberg upgrades Tyman to 'buy', cites attractive entry point

By Michele Maatouk

Date: Wednesday 01 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Berenberg upgraded its stance on shares of building products manufacturer Tyman to 'buy' from 'hold' on Wednesday and hiked the price target to 500p from 375p, citing an attractive entry point.
The bank noted that after a strong run over the past year, Tyman shares have pulled back 20% in recent months.

"We think the shares will outperform as management is focused on organic growth and margin expansion, the business is highly cash-generative with low leverage and potential for non-dilutive M&A, and it is supported by favourable macro tailwinds," it said.

Berenberg pointed out that historically, Tyman pursued an acquisition-led strategy, which contributed the vast majority of the revenue increase but also resulted in low organic growth.

"However, we think this is about to change. Management is now explicitly prioritising organic growth, installing a unified corporate culture and stepping up capital expenditure.

"At the same time residential construction (circa 80% of group revenues) is booming, while new-build housing and RMI activity are outperforming the broad economic recovery driven by pent-up savings, cheap mortgages and the 'race for space'."

In the longer term, Berenberg said the structural undersupply of housing and ageing stock that has been underinvested in the US should underpin growth forecasts.

"Taken together, we think that there is upside risk to current consensus revenue compound annual growth rate of 3% from FY 2021 to FY 2023 (or +7% versus 2019 by 2023)."

At 1235 BST, the shares were up 8.8% at 451.50p.

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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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