Bapcor's Earnings Are Supported by the Steadily Growing Vehicle Fleet
After falling by over 20% during the past few months, shares in narrow-moat-rated Bapcor are now attractively priced relative to our AUD 7.00 per share fair value estimate. The sell-off is likely a reflection of softening consumer spending and sentiment, although we believe Bapcor’s earnings should continue to grow strongly, even in the current economic climate.One of the firm’s most attractive characteristics is the bulk of its earnings are exposed to the automotive trade segment. While consum...
Bapcor is engaged in the sale and distribution of motor vehicle aftermarket parts and accessories, automotive equipment and services, and motor vehicle servicing. Co. has three operating segments. The Trade segment is a distributor of automotive aftermarket parts and consumables to trade workshops for the service and repair of vehicles, automotive workshop equipment such as vehicle hoists and scanning equipment, and automotive accessories and maintenance products to do-it-yourself vehicle owners. The Retail segment consists of business units that are retail customer focused. The Specialist Wholesale segment consists of the operations that focus on automotive aftermarket wholesale.
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