Hot Stock Careplus up 4% after Edge Research says Ebola, weaker RM may boost stock
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Hot Stock Careplus up 4% after Edge Research says Ebola, weaker RM may boost stock
Hot Stock
Careplus up 4% after Edge Research says Ebola, weaker RM may boost stock
KUALA LUMPUR (Nov 3): Careplus Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose two sen or 4% to 51 sen after Edge Research noted that the Ebola outbreak and weaker ringgit versus the US dollar could bode well for the rubber glove manufacturer.
At 10.16am, Careplus saw 4.96 million shares changed hands. For comparison, the FBM KLCI fell 0.51 point or 0.03% to 1,854.64.
The Edge Financial Daily had today published Edge Research's report on Careplus. The stock is also mentioned in TheEdge Markets.com.
Edge Research said Careplus was deemed a stock with momentum based on analysis using a propriety algorithm by Anticipatory Analytics Sdn Bhd.
According to Edge Research, rerating catalysts for Careplus included boost in sales due to Ebola, the manufacturer's capacity expansion, as well as better profit margins from the weakening ringgit and commodity prices.
Bernama reported today that the ringgit had weakened against the US dollar.
The ringgit was quoted at 3.3035 against the US dollar from last Friday's 3.2885.
Listed on Bursa Malaysia's ACE Market, Careplus is one of the smaller glove manufacturers in the nation. Notable glove manufacturers here include Top Glove Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Supermax Corp Bhd ([You must be registered and logged in to see this image.]Financial Dashboard).
Edge Research said Careplus shares traded at 2.4 times book value and a trailing 12-month price-earnings ratio (PER) of 38.1 times.
Bloomberg data indicated that the sector average PER was about 22 times.
Careplus up 4% after Edge Research says Ebola, weaker RM may boost stock
KUALA LUMPUR (Nov 3): Careplus Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose two sen or 4% to 51 sen after Edge Research noted that the Ebola outbreak and weaker ringgit versus the US dollar could bode well for the rubber glove manufacturer.
At 10.16am, Careplus saw 4.96 million shares changed hands. For comparison, the FBM KLCI fell 0.51 point or 0.03% to 1,854.64.
The Edge Financial Daily had today published Edge Research's report on Careplus. The stock is also mentioned in TheEdge Markets.com.
Edge Research said Careplus was deemed a stock with momentum based on analysis using a propriety algorithm by Anticipatory Analytics Sdn Bhd.
According to Edge Research, rerating catalysts for Careplus included boost in sales due to Ebola, the manufacturer's capacity expansion, as well as better profit margins from the weakening ringgit and commodity prices.
Bernama reported today that the ringgit had weakened against the US dollar.
The ringgit was quoted at 3.3035 against the US dollar from last Friday's 3.2885.
Listed on Bursa Malaysia's ACE Market, Careplus is one of the smaller glove manufacturers in the nation. Notable glove manufacturers here include Top Glove Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Supermax Corp Bhd ([You must be registered and logged in to see this image.]Financial Dashboard).
Edge Research said Careplus shares traded at 2.4 times book value and a trailing 12-month price-earnings ratio (PER) of 38.1 times.
Bloomberg data indicated that the sector average PER was about 22 times.
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