Analysis of Bank of Queensland, Inghams Group, Qube Holdings
Fund Manager Chris Pedersen discusses Bank of Queensland, Inghams Group and Qube Holdings.
Read MoreTag: ING
Inghams’ 20% drop
Inghams (ASX:ING), a major Australian chicken producer, experienced a significant share price drop on Friday despite reporting a substantial increase in full-year profits. While the reported results were slightly below market expectations, the market's reaction seemed excessive.
Read MoreAussies’ rekindled love for chicken amid soaring red meat prices
Australians appear to have rekindled their taste for chicken, possibly due to the prolonged high prices of red meat, as consumers face mounting living expenses. As people increasingly opt for home-cooked meals and cost-cutting measures, they turn to more affordable protein sources and fresh produce.
Read MoreING – Morgans rates the stock as Hold
The Hold rating is retained. The target price falls to $3.09 from $3.62.
Read MoreConference Confessional for Inghams, Cleanaway
Tuesday was confession time at Macquarie’s investment conference in Sydney, with a couple of companies owning up to bad news – waste group Cleanaway and chicken company Inghams.
Read MoreING – Citi rates the stock as Buy
Target remains $4.55 with an unchanged Buy rating.
Read MoreING – Macquarie rates the stock as Downgrade to Neutral
The broker believes the growth cycle in markets has peaked and downgrades to Neutral from Outperform. Target is raised to $4.03 from $3.98.
Read MoreInghams’ Operational Efficiencies Save The Day
Inghams Group’s strong expectant earnings recovery is wired to improving market conditions and a concerted attempt to improve operational efficiencies.
Read MoreDiscourse from the Bourse
A fair bit going on at the moment, here are a few developing stories from over the weekend we thought you might like updates on, involving PEXA / LNK, ING, SHV, TAH and FMG.
Read MoreImproved Profitability Perks Up Inghams
Ingham’s Group continues to benefit from strategic initiatives put in place in recent years while the easing of the pandemic presents further upside.
Read MoreING – Credit Suisse rates the stock as Outperform
Credit Suisse acknowledges the pandemic has had a greater impact on the company’s operations than previously allowed for but the FY20 result still highlighted resilience in overall poultry demand.
Read MoreING – UBS rates the stock as Neutral
UBS rates the stock as NeutralInghams has observed more uncertainty around the final weeks of FY20 in terms of changing volume and channel mix.
Read MoreING – UBS rates the stock as Neutral
Inghams Group’s profit was largely in line with consensus and guidance was reiterated. Strong momentum in New Zealand offset weakness in Australia. The broker remains concerned over poor cash flow conversion.
Read MoreING – Citi rates the stock as Upgrade to Neutral from Sell
As reported yesterday, the FY19 report missed consensus forecasts, and it was accompanied by guidance for a decline in profits for FY20. Following on from the share price shellacking that ensued post the release, Citi has upgraded to Neutral from Sell.
Read MoreING – Citi rates the stock as Sell
Inghams has provided an update as part of a conference, with a key message of a fall in the wheat price and a recovery in New Zealand. Citi suspects there still could be downside to FY20 estimates for earnings, given the run rate over the second half. Moreover, retail prices for poultry continue to fluctuate.
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