Stocks With Upward Momentum - PPE, ECX

  • Jun 03, 2019 AEST
  • Team Kalkine
Stocks With Upward Momentum - PPE, ECX

The below-mentioned stocks have witnessed significant uplift in their share prices during today’s intraday trade (as on 3rd June 2019). Let’s take a quick look at what has caused these stocks to climb up on ASX.

People Infrastructure Ltd (ASX: PPE)

People Infrastructure Ltd (ASX: PPE) is a technology-enabled workforce management company, which provides contracted staffing and human resources outsourcing services to various key industries.

The company today announced that it has acquired Halcyon Knights Pty Ltd, Halcyon Knights Commercial and Contracting Pty Ltd and Halcyon Knights New Zealand Limited, together known as Halcyon Knights. This acquisition of Halcyon Knights is highly complementary to the company’s existing IT recruitment business, which is an encouraging news for the company and investors.

Following the release of this news, the share price of the company increased by 3.971% during the intraday trade. The acquisition price for Halcyon Knights is $13.5 million payable in cash on closing. The company has announced that it will fund the acquisition via its existing cash reserves and new debt facilities.

The company is expecting Halcyon Knights to generate $3.9 million in EBITDA and $2.1 million in NPATA in FY2020, and after the acquisition, the company’s net debt will be around $30.5 million.

The company’s business has traded well throughout the H2FY19. The company is going to report its FY2019 results in late August.

In the past six months, the company’s stock has provided a return of 30.66% as on 31st May 2019. PPE’s stock last traded at $2.880, with a market capitalisation of circa $180.04 million as on 3rd June 2019.

Eclipx Group Limited (ASX: ECX)

The share price of Eclipx Group Limited (ASX: ECX) witnessed an uplift of 19.643% during the day’s trade.

The company recently released its half-year results, in which it reported a net profit after tax and amortisation (NPATA) of $13.8 million, down 62% as compared to $35.9 million in the previous corresponding period (pcp). The company also reported a statutory loss after tax of $120.3 million, which includes $118.4 million after-tax non-cash impairment of goodwill relating to Grays and Right2Drive.

Disappointed by the company’s underperformance, the Board has put forward a simplification plan, which includes the renewal of the company’s senior leadership team. The reinvigorated leadership team led by Julian Russell (CEO) and Bevan Guest (promoted to Chief Commercial Officer) will focus on growing the core businesses organically.

The company’s core fleet and novated businesses delivered an EBITDA of $40.7 million during the half-year period with solid growth in VUMOF (+6% to 103,414) and AUMOF (+7% to $2.1 billion).

Core Fleet and Novated Performance (Source: Company reports)

In the half-year period, the company increased cash and cash equivalents by $31.9 million, a rise of $33.6 million compared to the pcp.

In the past six months, the company’s stock has provided a negative return of 56.08% as on 31st May 2019. The company’s stock last traded at $1.340, up 19.643% during the intraday trade with a market capitalisation of circa $357.99 million as on 3rd June 2019.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK