Buyback Spree

Headlines this week said Record buyback spree attracts shareholder complaints and top stock picks are a mix of 85% BUY, 7% HOLD and 8% SELL.

1. BUY Restore

Top stock pick this week is BUY Restore by Canaccord Genuity with a healthy tip performance of 8%. The Redhill document, records, office and workplace company founded in 2004 floated at 600p in the year of its foundation, reached an all-time high at 1,067p in 2007 and now sits at 269p.

Restore share price is a mere 45% of the price it was four years ago – shareholders have endured a loss.

It is difficult at first glance to understand the BUY rating by Canaccord Genuity on Restore whilst Berenberg reduced its target price from 564p to 501p this week.

Two insiders have bought shares this week.

Canaccord Genuity has had a BUY rating on the stock since 2020. Three out of four analysts in Stockomendation rate it as BUY being Canaccord, Berenberg and Russ Mould. Steve Moore from ShareProphets says AVOID and there is one short position currently open.

2. BUY Watches of Switzerland

Second top stock pick this week is BUY Watches of Switzerland Group by Jefferies with a tip performance of 7%.

The watch retailer has 16 stores in Britain and was founded in 1924.

Shares plummeted this week notwithstanding record breaking annual turnover reported on Wednesday with growth fuelled by the US. Share price is down 53% in a year for the retailed.

Watches of Switzerland floated at 308p in 2019, reached an all-time high of 1,470p in 2021 and now sits at a respectable 696p.

Jefferies has rated it as BUY since its first rating in 2021 and three out of four analysts in Stockomendation rate it as a BUY or OUTPERFORM being Shore Capital, Jefferies and RBC Capital, with Goldman Sachs NEUTRAL. There are four open short positions on Watches of Switzerland.

3. AVOID Sondrel

Third interesting top stock pick this week is AVOID Sondrel by Steve Moore in ShareProphets with a tip performance of 7%.

It floated at 58p last year and stood pretty steady until it took a dive on the 12th of this month from 55p down to 45p.

Sondrel is a semiconductor company that was founded in 2002, it signed a licence agreement with Siemens in April.

Never ones to follow the crowd over at ShareProphets, Steve Moore is critical of the positive language used in the latest update and even rates it differently to his cohort over there (Tom Winnifrith rates it as a BUY).

Moore first rated it as a risky BUY back in 2014. Two out of three analysts in Stockomendation rate it as a BUY being Edmund Jackson and Tom Winnifrith with only Steve Moore out on a limb with AVOID. There are no active short positions open in Stockomendation.

Image credit Adam Bignell via Unsplash

Forewarned is forearmed! As always you can see the aggregated, performance monitored and ranked stock tips and picks data in Stockomendation which equips you to make good investing decisions. Check out www.stockomendation.com before your next trade for maximum understanding of your target stock.

UK Fund Manager Short Positions
See which UK Fund Managers are betting against your investments by accessing current & historical short positions on UK companies showing you which fund manager has shorted which company and by how much.

Join Now

CASH PRIZES ARE BACK!
Think you can pick stocks? Play the May league UK Share Picking game FREE for your chance to win cash prices : uksharepickinggame.co.uk

Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 19th May 2023.