Hexagon AB B

Hexagon is engaged in the provision of integrated design, measurement and visualization technologies. Co. has two segments: measurement technologies, which consist of Geosystems that captures, processes and stores position-related information, Metrology, which provides manufacturing evaluation, process qualification and final parts inspection, and Technology, which provides engineering software as well as geospatially powered solutions; and Other Operations, which focuses on the transportation industry in the car and heavy vehicle segments. The Other Operations conducts its business in the Nordic region.
  • TickerHEXA B
  • ISINSE0000103699
  • ExchangeNasdaq Nordic Stockholm
  • SectorSoftware & Computer Services
  • CountrySweden

Analysts

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – February 2020

Q4 results were close to expectations, with continued impressive margin resilience. There were some hopeful cyclical signals in January, although the coronavirus in China has introduced new risks to a potential recovery. Valuations remain elevated and make it difficult to find value, particularly at the higher end of the quality spectrum. Our key long ideas are: Alfa Laval, Metso, Volvo We are cautious on: ABB, Dometic, Kone

Hexagon Ab: 1 director sold

A director at Hexagon Ab sold 2,000,000 shares at 561.631SEK and the significance rating of the trade was 68/100. 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...

Anders Idborg ...
  • André Thormann
  • Benjamin Silverstone
  • Casper Blom
  • Derek Laliberté
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Karl Bokvist
  • Laurits Kjærgaard
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Peter Kurt Nielsen
  • Tobias Kaj

Talking Points - Assa Abloy (Hold): Valuation + risk have normalised – up to HOLD

Indutrade (Sell) Recommendation change: Time to reevaluate a long-term performer Relative valuation no longer stands out, and risks lower We upgrade to HOLD (Sell)

Frank Maaø ...
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Mattias Holmberg

Hexagon AB (Hold, TP: SEK575.00) - Recovery priced in

We reiterate our HOLD on Hexagon following the Q4 report, which was broadly in line with consensus. Hexagon is well positioned for structural growth trends, and the company indicated that organic growth should recover in 2020. We believe this is well reflected in its 2020e EV/EBIT of c20x (5-year historical average 18.8x). We have raised our target price to SEK575 (535), corresponding to a 2021e EV/EBIT of c18x.

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – February 2020

Q4 results were close to expectations, with continued impressive margin resilience. There were some hopeful cyclical signals in January, although the coronavirus in China has introduced new risks to a potential recovery. Valuations remain elevated and make it difficult to find value, particularly at the higher end of the quality spectrum. Our key long ideas are: Alfa Laval, Metso, Volvo We are cautious on: ABB, Dometic, Kone

Anders Idborg ...
  • André Thormann
  • Benjamin Silverstone
  • Casper Blom
  • Derek Laliberté
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Karl Bokvist
  • Laurits Kjærgaard
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Peter Kurt Nielsen
  • Tobias Kaj

Talking Points - Assa Abloy (Hold): Valuation + risk have normalised – up to HOLD

Indutrade (Sell) Recommendation change: Time to reevaluate a long-term performer Relative valuation no longer stands out, and risks lower We upgrade to HOLD (Sell)

Mattias Holmberg

Hexagon AB (Hold, TP: SEK575.00) - Recovery priced in

We reiterate our HOLD on Hexagon following the Q4 report, which was broadly in line with consensus. Hexagon is well positioned for structural growth trends, and the company indicated that organic growth should recover in 2020. We believe this is well reflected in its 2020e EV/EBIT of c20x (5-year historical average 18.8x). We have raised our target price to SEK575 (535), corresponding to a 2021e EV/EBIT of c18x.

Anders Idborg ...
  • Olof Cederholm

Hexagon - A lot of improvement already in the price

Solid Q4, but small negative revisions Improving organic growth already in our forecasts Down to HOLD, expensive at 20x 2020e EV/EBIT

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – January 2020

After a strong performance into the Q4 results, at the same time as top-down indicators remain dull, we find it increasingly difficult to find value in the sector. In relative terms, we favour names with company-specific drivers and valuation support, and continue to be cautious on unusually expensive low-beta names. Our key long ideas are: Alfa Laval, Electrolux, Metso, Volvo We are cautious on: ABB, Dometic, Kone, Nibe

Hexagon Ab: 1 director sold

A director at Hexagon Ab sold 2,000,000 shares at 561.631SEK and the significance rating of the trade was 68/100. 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...

Frank Maaø ...
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niklas Wetterling
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Christer Magnergård ...
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Joachim Gunell ...
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

An unfavourable environment weighs on HEXAGON AB, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of HEXAGON AB (SE), active in the Software industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date August 23, 2019, the closing price was SEK 440.60 and its target price was estimated at SEK 388.28.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Dassault Systemes SA - Strategy, SWOT and Corporate Finance Report

Summary Dassault Systemes SA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Dassault Systemes SA (Dassault or “the company”) is a provider of three dimensional (3D) product lifecycle management (PLM) solutions. The company provides consulting, deployment, engineering, and training services, among others. The company offers its solution to a wide range of industr...

MarketLine Department

Trimble Inc - Strategy, SWOT and Corporate Finance Report

Summary Trimble Inc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Trimble Inc (Trimble or 'the company'), formerly Trimble Navigation Limited, offers technology solutions for field mobile workers and professionals. The company provides software solutions, field solutions, BIM software, advanced integrated site layout and measurement systems, integrated workpla...

MarketLine Department

Dassault Systemes SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Dassault Systemes SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Dassault Systemes SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage...

Expert Corporate Governance Service (ECGS)

Hexagon

In general, Hexagon is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 12, approval is sought for the (re-)election of the board of directors and the statutory auditor. Since ECGS does not approve of the (proposed) composition of the board of directors as well as the current term in office of the statutory auditor it recommends to vote OPPOSE. Under ITEM 13, it is proposed to establish a(n) (external) nomination committee. Like several  institutional investors, ECGS has concerns over the bundled form under which...

Hexagon – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Stick with leadership: U.S., EM, and Hong Kong Amid the continued heightened volatility and consolidation, global support levels continue to hold and our long-term bullish outlook remains intact. Stick with outperforming markets: U.S., EM, and Hong Kong. • MSCI ACWI internals remain healthy. The MCSI ACWI price and advance-decline (A-D) line uptrends remain intact. This positive breadth signal helps support our bullish outlook... see below • Hong Kong and EM remain leadership, maintain overweights; Within EAFE, favor small-caps. EM relative strength is advancing to yet another new high vs. ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch