The UK office service provider, which owns cartridge collector ITP, was predicted by analyst Peel Hunt to see a 15.9 percent share price increase.
Fiscal Standard reported on Peel Hunt’s prediction, which outlined a “potential increase” in the company’s share price of 15.9 percent to 390p ($4.79/€4.34) from its current price of 336.5p ($4.13/€3.74), and also “retained its broker consensus” on investing in the company, stating that it still gave it a ‘Buy’ rating. Over the last 12 months, the company’s stock price has grown by 31.03 percent, having increased from 256.82p ($3.15/€2.85) to 336.5p.
The company has 97.04 million shares “in issue”, which give it a “market capitalisation” of £326.54 million ($401.58 million/€363.47 million), while its “52-week high” was 370p ($4.55/€4.11), and its low counterpart was 248.1p ($3.05/€2.76). The Recycler reported the company bought out empties collector ITP in July last year, as well as UK document scanning business Crimson UK last August, document shredder Wincanton last November, relocations company Diamond Relocations last December, and PHS Data Solutions this year.
In turn, Restore’s document management business also grew by 73 percent, as reported last September, while its half-year results were said to be “broadly in line” with predictions in July last year. Analysts had advised buying shares in Restore in June, though ITP’s Commercial Director Jason Doran left by mutual consent in late May.