Bapcor Limited, an ASX-listed leader in the automotive aftermarket industry, is undergoing significant changes under its new Executive Chair and CEO, Angus McKay, who stepped into the role eight weeks ago.
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Like Fletcher Building, auto parts group Bapcor (ASX:BAP) was always likely to report a substantial loss given the trading and management challenges exposed from February onwards.
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Car parts retailer and distributor Bapcor (ASX:BAP) had a busy Tuesday, announcing a new CEO and Executive Chair, and rejecting the tentative $5.40 a share approach from Bain Capital, an American private equity group.
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Embattled car parts retailer and distributor, Bapcor (ASX:BAP), has won significant support from its bankers as it prepares to announce a significant loss for the year ending June 30 and decides whether to fight a takeover approach from an American private equity firm.
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Interesting how the Bapcor (ASX:BAP) share didn’t get near the $5.40 trailed by Bain and Co in one of those airy-fairy non-binding indicative, perhaps-we-might-make-a-bid deals on Tuesday, revealed after the long weekend.
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A snapshot of the stocks on the move, featuring Bapcor (ASX:BAP), Summit Minerals (ASX:SUM) and DY6 Metals (ASX:DY6).
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Struggling automotive parts retailer and distributor, Bapcor (ASX:BAP), has confirmed that US private equity group Bain Capital has lobbed a non-binding offer at around $5.40 a share, approximately $1 above Friday’s close of $4.36.
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The 30%-plus plunge in the Bapcor (ASX:BAP) share price after Thursday’s trading update told the story of why incoming CEO, Paul Dumbrell, recoiled and quit the gig a day before he was due to start on May 1.
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In an ominous sign, shares in the auto products group Bapcor (ASX:BAP) were halted on Tuesday ahead of a trading update, which is expected to outline sliding sales and profits.
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Automotive parts retailer and wholesaler, Bapcor (ASX:BAP), might struggle to maintain its interim dividend at 10.5 cents a share if its weak update for the half-year to December turns out to be accurate.
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Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance.
Read MoreDiffering fortunes for financial services group Computershare and car parts group Bapcor in Wednesday trade saw the former gain more than 11% and the latter lose almost as much.
Read MoreA day before it releases its December half results, car parts group, Bapcor has revealed its new CEO in the shape of its chief financial officer.
Read MoreThe departure of Bapcor CEO Darryl Abotomey has turned toxic and he is out the door with immediate effect rather than early next year, as originally planned.
Read MoreOn what was a pretty slow Tuesday on the ASX, here are four bits of news from TechnologyOne (ASX: TNE), Bapcor (ASX: BAP), Northern Star (ASX: NST), and Link Group (ASX: LNK).
Read MoreMacquarie lifts its FY22 and FY23 EPS forecasts by 3% and raises its target price by the same percentage to $8.80 from $8.55.The Outperform rating is unchanged.
Read MoreOutperform rating is unchanged and the target is lowered to $9.20 from $9.25.
Read MoreWith peak reporting season upon us, here are snippets from the results announced yesterday by some local retailers: Coles, Super Retail Group, Bapcor and mall owner-operator Vicinity Centres.
Read MoreBapcor is in the front seat, amid confidence in the company’s ability to drive earnings growth beyond the stimulus that underpinned FY21.
Read MoreAutobarn owner Bapcor has picked up a 25% stake in Singapore auto parts group Tye Soon for around $12 million – putting a value on the new associate of $50 million.
Read MoreManagement’s guidance for first half group revenue growth of at least 25% and profit (NPAT) of at least 50% is well ahead of Credit Suisse forecasts. The Outperform rating is maintained and the target reduced to $8.60 from $8.75.
Read MoreAutoparts retailer and distributor, Bapcor has joined the growing list of earnings updaters with news of a 50% plus jump in December half-year earnings because of continuing strong sales.
Read MoreShares in automotive parts retailer and wholesaler, Bapcor have jumped to a record high after the release of its first-quarter update which showed Australians are spending more keeping their existing cars roadworthy and going.
Read MoreAutomotive accessories supplier Bapcor delivered FY20 results that were hard to fault, and the outlook for FY21 looks promising.
Read MoreCiti retains a Buy rating of Bapcor as the end of JobKeeper is likely to have a limited impact on profitability, unlike other discretionary retailers eligible for the scheme.
Read MoreFY20 guidance has been reinstated with net profit expected to be $84-88m. Trading in May and June has been very strong.
Read MoreCar parts retailer and distributor Bapcor has joined the small group of companies reinstating previously dropped earnings guidance for 2019/20 as it gets a better handle on life in a COVID-19 world.
Read MoreWe saw two vastly contrasting reactions from retail shareholders to two recent offers from middle range industrial stocks that were looking to finish large capital raisings.
Read MoreBapcor has completed a $180m institutional placement which is expected to significantly reduce leverage. UBS notes the store network in Australia is fully operational and gross margins are steady.
Read MoreVirgin Australia has stepped up its money finding efforts, asking for trading in its shares to be suspended as it works on a restructuring plan and awaits any news from Canberra about a $1.4 billion bailout package from the Federal Government.
Read MoreBapcor has underperformed recently, given the concerns around shut-downs and the associated impact on the balance sheet.
Read MoreAuto parts and accessories seller Bapcor saw its shares jump more than 6% yesterday after it fought off a weak trading environment to post a solid rise in profit.
Read MoreThe last 12 months have been tough for Bapcor (ASX:BAP) but there now appears to be light at the end of the tunnel. After a challenging period for Bapcor shares, we saw the recent full-year results release (FY19) as potentially a turning point.
Read MoreShares in automotive parts supplier Bapcor jumped nearly 7% yesterday after it reported a record net profit of $94.3 million on a 4.8% lift in revenue to $1,297 million for the 2018-19 year.
Read MoreBapcor is cementing its position in car parts and brokers are upbeat about the stock, despite the likelihood growth rates will now be less stellar.
Read MoreThe company has recently reiterated net profit growth guidance for FY19 of 9% and will host an investor briefing on July 3. Morgans assesses the company is capable of sustaining a solid single-digit organic growth profile across the forecast years.
Read MoreBapcor is Australia’s biggest supplier of parts to the car repair trade is travelling nicely at the moment – earnings for the year to June jumped more than 50%, dividend was boosted and the company is looking for another year to double digital growth in 2018-19.
Read MoreBapcor shareholders will get a substantially higher dividend after another solid interim result for Australia’s leading auto parts provider (and main rival to Super Group’s Super Cheap chain).
Read MoreThe business press may be full of stories indicating that retail is struggling in Australia, in the wake of an underwhelming Christmas season, but not every sector of the market is equally gloomy.
Read MoreBapcor has lifted its takeover offer for NZX based rival, Hellaby Holdings and told the market there would be no more price rises.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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