ARB Corporation: Result 2014

We downgraded ARB Corp on 21 May 13 (Sell – $13.49) as its strong share price and high valuation made little allowance for the carnage we expected in the resources and mining services sectors. While share prices in those sectors have indeed been savaged, ARB’s share price is recovering as strong exports help offset reduced orders from vehicle manufacturers. Total sales only increased 2.2% over the past year, but if the company continues to develop new products at home and abroad this should eventually offset any short-term cyclical concerns such as Australia’s slowing resources sector. Following years of development...

We downgraded ARB Corp on 21 May 13 (Sell – $13.49) as its strong share price and high valuation made little allowance for the carnage we expected in the resources and mining services sectors. While share prices in those sectors have indeed been savaged, ARB’s share price is recovering as strong exports help offset reduced orders from vehicle manufacturers.

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