The whole market was down. My personal fair value estimate/target price is around $34.20 based on consensus forecasts for earnings and dividends and the average trading multiple of its peers. I know ARB has tended to trade at a premium to its peers, seemingly due to quality, but I prefer this conservative method. I think the market is now valuing it pretty fairly. It was a bit ridiculous when it hit $40, no offense to anyone who has that as an entry point.
I think there's still potential for it to go backwards once spending reverses but moves like the Truckman acquisition and some of the tailwinds behind the business make me hopeful for further improvement in growth or profit. I would then expect the stock to move closer to $40.
I have sold all my other 'COVID winners' (KGN, APT, SZL etc) but can't bring myself to cut ARB.
Let's see what happens.
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- Ann: Acquisition of Auto Styling Truckman Group Limited
The whole market was down. My personal fair value...
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Last
$40.50 |
Change
0.220(0.55%) |
Mkt cap ! $3.334B |
Open | High | Low | Value | Volume |
$40.59 | $41.36 | $40.44 | $2.759M | 67.89K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 905 | $40.49 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$40.71 | 270 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 265 | 39.880 |
1 | 25 | 39.380 |
1 | 39 | 38.900 |
1 | 129 | 38.500 |
1 | 25 | 38.180 |
Price($) | Vol. | No. |
---|---|---|
40.780 | 4050 | 1 |
40.820 | 118 | 1 |
41.260 | 122 | 1 |
41.350 | 250 | 1 |
41.510 | 24 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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ARB (ASX) Chart |