Earnings growth will be driven by acquisitions, operational improvement, and efficiency gains.
We maintain our AUD 10.50 per share fair value estimate for GUD, and at current prices the shares are overvalued relative to our fair value estimate. While the medium-term outlook is positive, we believe the company will face headwinds in the longer term. Most noteworthy is the gradual shift from internal combustion engines to electric vehicles, or EVs. While EV penetration is negligible at present, it is increasing and in time will start to erode demand for GUD's core products, namely filtratio...GUD Holdings is engaged in the manufacture and importation, distribution and sale of cleaning products, household appliances, warehouse racking, industrial storage solutions, office storage products, automotive products, locking devices, pumps, pool and spa systems, and water pressure systems, with operations in Australia, New Zealand, France, Spain, China, Malaysia and Hong Kong. Co.'s reportable segments are Oates, Automotive (Ryco, Wesfil, Goss), Davey, Dexion, and Lock Focus.
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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