AMP, Woodside and GUD
Fund Manager Chris Pedersen talks about where to look for growth, looks at ASX100 Aug winners and ASX100 Aug losers, and takes a look at AMP (ASX:AMP), Woodside (ASX:WDS) and GUD Holdings (ASX:GUD).
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GUD Holdings Limited comprises a number of dynamic product companies based in Australia and New Zealand. Through these businesses, GUD is the owner of one of the Asia-Pacific region’s premier brand portfolios. Most of GUD’s brands are market leaders in their individual product categories and industries.
In addition to brand management, GUD’s principal skills are in the disciplines of product design and development, offshore sourcing and supply chain management. The Group greatly values new product development and innovation, believing that these capabilities are fundamental to generating long-term, above average financial returns.
The Company’s primary objectives are to produce long-term shareholder returns above the cost of capital and to maximise the value of its brand portfolio for the benefit of shareholders.
GUD has been listed on the Australian Stock Exchange for over 50 years and is included in the S&P ASX 200 index.
Fund Manager Chris Pedersen talks about where to look for growth, looks at ASX100 Aug winners and ASX100 Aug losers, and takes a look at AMP (ASX:AMP), Woodside (ASX:WDS) and GUD Holdings (ASX:GUD).
Watch Now
Two days before its investor day on Wednesday, GUD (ASX:GUD) stated that its expected underlying earnings are on track, though its dominant automotive operation will fall a little short due to weakness across the Tasman and in some parts of the sector in Australia.
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GUD is set to become a pure-play automotive products company after the $65 million sale of its pumps company, Davey Water Products, to Sydney-based Waterco.
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A couple of news items from Thursday's ASX trading session, with GUD Holdings announcing a late profit downgrade and The Reject Shop filling a vacant key management role.
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The Buy rating is retained and the target price increases to $14.40 from $13.80.
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The Outperform rating is retained and the target price increases 4% to $16.40.
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The target price of $4.10 is unchanged, despite the analyst increasing the estimated loss for FY22 to -$1.6bn from -$1.2bn. The broker is cautious on taking a more positive stance and retains its Underperform rating.
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Some follow-up news from Wednesday’s ASX session involving various stocks we’ve been watching of late, namely GUD Holdings, GrainCorp and Costa Group.
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Car parts maker GUD Holdings (ASX: GUD) will double its size with a $745 million cash and share deal to purchase AutoPacific Group (APG) from a private equity group.
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The broker upgrades to Buy from Neutral, as this should be a tailwind once lockdown restrictions are lifted. The target price remains at $12.30.
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Some snippets from three companies that gave updates to the market on Wednesday: auto parts retailer GUD Holdings, BWP Trust (Bunnings), and mortgage insurer Genworth.
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