reports
Ricardo: 2 directors
Two Directors at Ricardo bought 29,393 shares at between 439p and 440p. The significance rating of the trade was 66/100. 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 c...
- Robin Byde
Ricardo (RCDO LN) - Getting there
Ricardo has been busy, making useful tuck-in acquisitions and earlier this week announcing a c.$400m contract extension to the US Army’s Humvee fleet upgrade programme. Full year results yesterday were also positive, combined with good progress on the transformation of the divisional portfolio. Order intake was up 23% (£522m), constant currency revenue was up 14% (£445m) and operating profit up 16% (£34m). The operating margin ticked up slightly to 7.6% (vs. 7.4% in FY22a); but this was still we...
- Liberum Research Team
APH ALLIANCE PHARMA PLC
DPH DECHRA PHARMACEUTICALS PLC
RCDO RICARDO PLC
EZJ EASYJET PLC
KIE KIER GROUP PLC
YNGA YOUNG & CO.'S BREWERY PLC A
PETS PETS AT HOME GROUP PLC
LMP LONDONMETRIC PROPERTY PLC
RMG ROYAL MAIL PLC
SPI SPIRE HEALTHCARE GROUP PLC
FEVR FEVERTREE DRINKS PLC
AJB AJ BELL
BYIT BYTES TECHNOLOGY GROUP PLC
JE00BLR94N79 INVINITY ENERGY
- Liberum Research Team
APH ALLIANCE PHARMA PLC
DPH DECHRA PHARMACEUTICALS PLC
RCDO RICARDO PLC
EZJ EASYJET PLC
KIE KIER GROUP PLC
YNGA YOUNG & CO.'S BREWERY PLC A
PETS PETS AT HOME GROUP PLC
LMP LONDONMETRIC PROPERTY PLC
RMG ROYAL MAIL PLC
SPI SPIRE HEALTHCARE GROUP PLC
FEVR FEVERTREE DRINKS PLC
AJB AJ BELL
BYIT BYTES TECHNOLOGY GROUP PLC
JE00BLR94N79 INVINITY ENERGY
- Alex O’Hanlon
- Joe Brent
- Sanjay Vidyarthi
LIBERUM: Ricardo* - Acceleration towards "One Ricardo"
We attended Ricardo’s CMD yesterday and make 5 key points: 1) Management indicated that trading is in line with expectations for FY 23. 2) Ricardo’s end to end capability across many markets and geographies makes it unique. 3) Strategic and digital investment will help accelerate growth and the margin progress. 4) A performance culture is being created which will help ensure delivery to clients through “One Ricardo”. 5) The target for FY 27 to more than double underlying operating profit in the ...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Alex O’Hanlon
- Joe Brent
- Sanjay Vidyarthi
LIBERUM: Ricardo* - Succesful McLaren re-bid underpins expected volume...
Ricardo has announced its success on the contract re-bid with McLaren. The contract takes the relationship with McLaren into the next decade and adds visibility. The contract underpins the expectation of rising volumes at McLaren at similar margins. There is still scope for further growth with McLaren, and other OEMs, in new areas. We maintain our TP of 659p based on a c. 20% discount to peers.
- Robin Byde
Ricardo (RCDO LN) - Up with events pending CMD
We have been positive on RCDO as trading and order intake has recovered, but we think the stock will now mark time pending the CMD and strategy update in May. We refresh our estimates and valuation after recent H1s, and another tuck-in acquisition. For FY23e our revenue is lifted by 2% to £429m and operating profit lifts by 4% to £34m. Our EPS is held back slightly (up 2% to 33.1p) with higher assumed taxes and cost of debt. Similar upgrades are applied in FY25e. With higher estimates, record or...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Alex O’Hanlon
- Joe Brent
- Sanjay Vidyarthi
LIBERUM: Ricardo* - Transformation underway and recovery potential at ...
The H1 23 results showed continued progress towards the FY 27 targets. We maintain our FY 23 headline earnings estimates and show them on the new divisional basis. We make five key points: 1) Our H2 23 revenue estimates are well covered by the
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.