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ForFarmers price falls through the 3 euro limit
The share price of ForFarmers dropped through the psychological limit of €26 on Tuesday 3 April, which is also a new low. This continues the downward trend.
Last Wednesday, the price received a significant knock, the day after the dividend of €0,29 per share was paid. That is a logical phenomenon. In the days that followed, the downward trend continued, which has actually been going on since the summer of 2018. At that time, ForFarmers was still trading above €12 per share. by both internal and external factors results have come under pressure and investor confidence has ebbed away. ForFarmers also has its own purchasing program in mid-March on hold put.
The share of ForFarmers was previously labeled as undervalued by stock market analyst Nico Inberg of De Aandeelhouder, but judging by the continuously falling share price, bargain hunters are not (yet) stepping in en masse. Private investor Dirk Lindenbergh van Blikkenburg BV from Zeist has expanded its interest to 5%, as was announced this month due to the so-called notification obligation of the AFM on the basis of the Financial Supervision Act.
New CEO
Next Thursday (May 5) ForFarmers will publish a trading update on the first quarter. Due to the increased raw material prices – as a result of the war in Ukraine – it is not immediately obvious that the results show an improvement. From July 1, the new CEO to, in the person of Chris Deen who comes over from Aviko. Some time after that, the animal feed group comes with an update of the new strategy.
Wouter Job
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