Defensive balance sheet and competitive advantages provide a solid foundation for long-term growth.
Following almost 30% share-price appreciation over the past six months, shares in narrow-moat-rated ARB are significantly overvalued relative to our fair value estimate. The business is extremely high quality, with a dominant market position, strong brand, and pristine balance sheet, all of which can help justify the premium multiples the company has long traded at. Nonetheless, at 33 times fiscal 2018 forecast EPS, we believe the stock is expensive, especially when compared with the five-year h...ARB is engaged in the design, manufacture, distribution and sale of motor vehicle accessories and light metal engineering works.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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