Tag: ASX:ING

Inghams Group

Inghams Group : Add to watchlist and wait for a break above the 10-day average.

Inghams Group will likely find buying support within the $2.75 – $2.95 price range.

Inghams Group will likely find buying support within the $2.75 – $2.95 price range.

Inghams Group is rated a buy with a stop loss at $3.43.

Inghams Group is under Algo Engine buy conditions.

Inghams Group is now under Algo Engine buy conditions following recent signals within the $3.10 to $3.30 price range.

The rally in the share price on Friday was the result of the company upgrading FY21 guidance to EBITDA 203-$213m (statutory $438-448m) and NPAT to be $96-103m.

We have ING trading on a forward yield of 5% and we expect to see mid-single-digit EPS growth over the next 2 – 3 years.

Our ALGO engine triggered a buy signal for Ingham’s Group on December 18th at $3.42.

Now that Red Lea Chicken has been placed into voluntary administration, analysts estimate that ING’s 40% share of the domestic chicken market will grow by 1-2% and add 1.2% to EPS.

Based on those estimates, we see the share price rising into the $4.00 area over the medium-term.

Ingham’s Group

Inghams Group reported  1H18 NPAT of $65 million versus $51 million the same time last year, whilst revenue of $1.2 billon was down 1.7%.

The company announced an interim dividend of $0.095

FY19 EPS growth is forecast to increase by 5.5% and DPS will increase slightly to $0.20, placing the stock on a forward yield of 5.6%.

After buying ING at lower levels, we’ve locked-in profit as we don’t consider the stock a core portfolio holding.

Inghams Group