As a leader in reinforced polymer technology, Fenner is one of the world's leading producers of heavyweight belting using PVC, fabric and steel reinforced rubber. Precision polymer products, designed and manufactured by the group, include detachable V-belts, thermoplastic belts, precision timing belts, flat belts, image transfer rollers, high-temperature hoses, technical fabrics and textile structures, key less bushings and belt/chain tensioners.
A week ago, Fenner announced that it exchanged contracts to acquire substantially all of the assets of American Industrial Plastics, a privately owned company based in Florida. The value of the AIP gross assets being acquired is USD 3.8 millions.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of GBP 31.37 per share for the current year.

Technically, the stock is in uptrend in the short term. It benefited from the significant GBp 329.3 support area. 20-day moving average is increasing again. A crossover of the GBp 402.3 resistance in closing price would be a strong bullish signal and might lead the security toward the GBP 456.5 pivot point.

Therefore, active investors can take a long position in Fenner at EUR 402. The target price will be GBp 456.5. In order to avoid important losses, a stop loss will be fixed under the GBp 358.1 short-term support.