TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Jonette]

Remember they do not own all the cars they sell.It used to be 50%.Not sure what the current % is,most probably higher say 60%.
A great number are on consignment from fleet owners etc.
Also I would guess the average sale price is closer to $13,000 than $17,000.,

when they auction a car, I wonder if that money goes through as revenue, even if they don’t own it?

thanks for your opinion on the price, the more I get the more likely we can get it right.

I wondered about the 100 per day, if I assume that is working days, ie 6 days a week then the average price is $15k.

[Jonette]

They list 60 cars for auction over the next 3 weeks, that is tiny compared to 3000 per 4 weeks (month), so auctions may not be too important anymore?

actually, that’s listings of all sorts, so is wildly inaccurate, sorry

[Muse]

New 12 month TP’s overnight. Craigs $5.25, Jarden $4.76. Both forecast net cash yields over 5% this financial year rising to 6% in FY24 at current spot price

[Beagle]

My updated target price 12 months from now is $5.60

[Louloubell]

I already had a nice parcel but have topped up. Many reasons for the tailwinds for the foreseeable future. I particularly like the straightforward communication and clear expectations of profits and dividends.

[Rawz]

I already had a nice parcel but have topped up. Many reasons for the tailwinds for the foreseeable future. I particularly like the straightforward communication and clear expectations of profits and dividends.

Agree 100% I feel like a company owner with TRA rather than a nuisance with some other companies

[sb9]

I already had a nice parcel but have topped up. Many reasons for the tailwinds for the foreseeable future. I particularly like the straightforward communication and clear expectations of profits and dividends.

Yes, its big turnaround especially when Chair Baker didn't show up (was online however) for ASM few years back as he tht attending prior committed car event overases was more important. Definitely more refreshing with him buying big chunk on market last year along with Todd.

[Jonette]

My updated target price 12 months from now is $5.60

My forecast revenue forecast for FY22 is $345m, profit $43.9m.

On that basis my DCF based target price for 12 months out is $5.65. Down from my earlier target of $5.90 - I overestimated 1H22.

Nelson is still to come online, so that may have a material impact on sales, but maybe not this half if it is delayed to next year. My previous forecast assumed Rotorua and Nelson would come online, only Rotorua did, so I guess that forecast was not quite as over-optimistic as I first thought.

[Beagle]

Yes all looking good for FY22 and beyond !

Cool story "Holden" back the years https://www.nzherald.co.nz/lifestyle...BAOJSGYRS2PCE/ Gosh as teenager I used to absolutely adore the next door neighbors V8 Monaro.

[peat]

that is a great story , and it is totally on topic!