Shares in GUD are Slightly Undervalued After Declining for 12 Months
After falling by around 30% during the past year, shares in no-moat-rated GUD are now slightly undervalued relative to our unchanged AUD 11.00 per share fair value estimate. Despite a challenging 12 months for new vehicle sales, GUD’s near- to medium-term earnings outlook is healthy. This is because the firm’s sales are more closely tied to the size of the vehicle fleet, which doesn’t fluctuate greatly from year to year. Group sales (from continuing operations) should comfortably grow at a high-...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.
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