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Prices & Quotes - UK Markets - Crest Nicholson Holdings (CRST)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 237.60p
Change Today:
-2.40p
Market Cap:
610.44m
Sector:
Household Goods & Home Construction

Deutsche Bank lifts Crest Nicholson to 'buy'

By Michele Maatouk

Date: Monday 07 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Deutsche Bank upgraded shares of housebuilder Crest Nicholson on Monday to 'buy' from 'hold' and lifted the price target to 250p from 202p as it said strong action has been taken to address the cost base and the stock is attractively valued.
Analyst Jon Bell said: "Crest has misfired more often than my 14 year old BMW but its current management team - still relatively new to their seats - has a steely (and welcome) determination about it.

"And as I sat in the gallery of the Chartered Accountants' Hall on a cold January morning listening to the company's FY results presentation, it was there for all to see. CEO Truscott and CFO Cooper had allowed no grass to grow under their feet.

"Quick to identify the company's swollen cost base, remedial action swiftly followed: next year's administrative expenses should be almost a third lower than 2019A levels; and two-thirds of 30m per annum procurement savings had been embedded by the time of the interims."

Bell said the benefits remain latent, obscured by the market's focus on the pandemic, but should bear fruit in the medium term.

He said the release of pent-up demand and the benefits of the Stamp Duty holiday have improved the near-term pricing outlook for the company. In the case of the latter, this is particularly so in the company's core South East footprint, it said, raising the possibility that it could report results towards the top end of its indicative range.

"For a company with a chequered history of meeting market expectations, simply reporting in line should go a long way towards restoring faith."

At 1100 BST, the shares were up 6.7% at 202.20p.

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

 

CRST Market Data

Currency UK Pounds
Price 237.60p
Change Today -2.40p
52 Week High 519.00p
52 Week Low 164.50p
Volume 854,403
Shares Issued 256.92m
Market Cap 610.44m

Performance Indicators

Compare performance with the sector and the market.

Key
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Value
market
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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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PEG
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Dividend Yield
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EPS Growth
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Operating Margin
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sector
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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 3
Sell 0
Strong Sell 2
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CRST Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 19-Sep-19
Paid n/a 04-Oct-19
Amount 0.000p 11.20p

Trades for 20-Oct-2020

Time Volume / Share Price
16:35 151,516 @ 237.60p
16:29 1 @ 238.00p
16:29 6 @ 238.00p
16:29 8 @ 238.00p
16:29 247 @ 238.00p

CRST Key Personnel

CEO Peter Truscott
COO Tom Nicholson