Extract from a Livewire analysis issued today by Reece Birtles from Martin Currie Investments. Birtles is even more critical than me....
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Bapcor (ASX: BAP)
Chris Conway: Next up we're talking Bapcor. The provider of automotive parts and accessories. Reece, I'll stay with you. Buy, hold, or sell?
Reece Birtles (SELL): This one's a sell for us. It is been an M&A roll-up over many years and had a very good growth track record, but it now has a new management team, and their focus is away from M&A and it's all about efficiency. So it's had a PE rating that really goes with that growth story, but it's stalled. Earnings have been falling and going sideways, and they've got this focus on efficiency with just so many individual items that they have to hit, so many people responsible for it, so many things they're tracking. We just think it's almost a laughable program to deliver cost savings, and the brokers and consensus have added that to earnings going forward, and we don't think it'll be achieved. And then, just in their recent AGM update, the reality's striking. They're losing market share and they're suffering cost pressures. So for us, it's a sell.
Extract from a Livewire analysis issued today by Reece Birtles...
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Last
$4.25 |
Change
0.020(0.47%) |
Mkt cap ! $1.442B | |||
| Open | High | Low | Value | Volume |
| $4.28 | $4.32 | $4.20 | $9.768M | 2.301M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6925 | $4.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.25 | 39343 | 6 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$4.24 |
Change
0.020 ( 0.39 %) |
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| Open | High | Low | Volume | ||
| $4.27 | $4.31 | $4.20 | 334777 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| BAP (ASX) Chart |