Applegreen is among the most widely tipped Irish stocks among analysts for 2018, with the Irish economy continuing to grow and further expansion of the group in the UK and the north-eastern US, according to reports from The Irish Times.
Analysts at Merrion Capital expect the fuel forecourt company to grow its profits between 15% and 20% annually over the next three years, as Applegreen’s CEO Bob Etchingham focuses on acquisitions and improving the margins of service areas.
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Davy put Applegreen on its ‘conviction list’ of 10 stocks for investors to buy this year, saying it offers almost 30% upside, which is the most among all companies on the list.
The company also drew attention from Goodbody Stockbrokers analysts in their 2018 outlook, who said that its relatively low debt provides it with “sufficient financial flexibility to continue investing in opportunities across its three core markets”.
The company came onto the stock market in 2018 and is currently valued at approximately €500 million by the market.
It raised as much as €47 million through a share sale last October, to help it finance the acquisition of a 42-site forecourt retail operation in South Carolina for $5.4 million and a seven-site operation in the UK for £21 million.
With fuel prices ending on their highest of the year last month, the company joined the January sales trend by launching their ‘Biggest Fuel Sale Ever’, cutting prices by 4c per litre for three days across all 177 of their forecourts and dealer stations simultaneously.
© 2018 - Checkout Magazine by Kevin Duggan
