MTO – Morgans rates the stock as Upgrade to Add
The broker lifts the rating to Add from Hold and the target to $3.18 from $2.70.
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Motorcycle Holdings Limited
Founded in 1989, MotorCycle Holdings is Australia’s leading motorcycle dealership and accessories group with 48 franchises operated from 31 dealership and 8 retail accessory locations in Queensland, New South Wales, Victoria and the Australian Capital Territory.
MotorCycle Holdings’ core business consists of the ownership and operation of motorcycle dealerships and retail accessories outlets engaging in the sale of new motorcycles, used motorcycles, accessories and parts, finance, insurance and warranty as well as service and repair.
MotorCycle Holdings also owns and operates a rider training school and a motorcycle repair business which performs smash repair work for insurers. In October 2017 the Group acquired of Cassons Pty Ltd and now also operates a motorcycle accessories wholesaling business.
The Company represents a diverse portfolio of brands. In the new motorcycle category MotorCycle Holdings sells 8 of the top 10 selling motorcycle brands in Australia (by number of new motorcycle sales). In 2018 these 8 brands represented 88% of Australian new motorcycle volume. In the used motorcycle category the Company sells all of the top 10 selling brands (by number of used motorcycle sales) in Australia.
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MTO – Morgans rates the stock as Hold
The pre-released 1H21 earnings (EBITDA) rise of 168% was driven by strong demand, cost-out and new products and businesses, explains Morgans. The Hold rating is retained and the target is decreased to $2.70 from $2.86.
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MTO – Morgans rates the stock as Hold
Motorcycle Holdings' first-half guidance indicates to Morgans strong margins are the key driver of earnings strength along with strong volume. Also, new brands and dealerships are considered contributors to earnings strength.
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Window Opens On Consumer Trends
Consumers shopped in larger quantities, less frequently and increasingly online during the height of the nationwide lockdowns. The question now is: which trends will persist and which stocks will benefit as restrictions ease?
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MotorCycle Holdings Gears Up In Parts Deal
Investors grabbed shares in MotorCycle Holdings, (which is one of Australia’s largest motorbike dealers) after it revealed plans yesterday to punt the company on a plan to buy an accessories and parts retailer for $123.2 million.
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