03/09/2025 09:35

Eagers Automotive Ltd (APE) $27.44

When we decide to move back up the risk curve, we will look towards August's top performers, and APE certainly fits that bill, having surged more than 40% last month. The obvious question is, have we missed the boat with this effective car yard trading on 33x?

Read more

08/07/2025 09:30

Eagers Automotive Ltd (APE) $18.61

APE rerated on the upside in February after the new and used car retailer reported FY24 revenue up 14% as they enjoyed surprisingly strong demand for new vehicles.

Read more

25/03/2025 09:47

Eagers Automotive (APE) $15.99

APE gained another +1.2% on Monday, bringing its year-to-date gain to +35%, a notable result in a market currently in negative territory.  The new and used car retailer has been on fire since it beat benign earnings expectations in February.

Read more

27/02/2025 17:16

Eagers (APE) $14.93

APE +19.92%: Had a great session after the new and used car retailer reported FY24 revenue up 14% and said there is strong demand for new vehicles.  

Read more

26/09/2024 09:21

Eagers Automotive Ltd (APE) $10.70

Extrapolating the equation mentioned earlier, increased liquidity creates more capacity to buy discretionary items. For example, a more confident and flush consumer  is more likely to buy a new car after a period of lower activity in the space. APE is Australia’s largest car dealer, and after a tough 12-months, with the shares trading down 26% year-to-date, value is emerging – the stock is trading at a depressed multiple, around 25% cheap relative to history as the market continues to think an earnings recovery is some way off.

Read more

04/09/2024 06:24

Eagers Automotive (APE) $10.76

Eagers (APE) is Australia's largest car dealer and is coming off the back of a tough 12-months, with the shares trading down from ~$16.  New car sales have been weak, amplified by too much inventory (after having too little during Covid), particularly within EVs. As is well known by now, EV sales have been weaker than many expected, including Eagers and this has been a headwind for them.

Read more

22/05/2024 16:43

Eagers Automotive (APE) $10.36

APE -15.01%: the car retailer hosted their AGM today with some soft trading commentary sending the stock to its lowest level since 2022. Revenue to April is running 18% higher than 1H23 which is well and truly on track to meet consensus expectations for the first half. The issue lies with Profit Before Tax (PBT) with the company saying they expect PBT to fall 15% in the half, a ~15% miss to consensus.

Read more

10/05/2024 09:21

Eagers Automotive Ltd (APE) $11.96

APE fell 3.2% yesterday, actually placing it in the top half of the main retailers on Thursday. When we buy sector sell-offs, we prefer to buy the strength, and with APE making 52-week lows this month while trading down 17% year-to-date, it definitely doesn’t fit this description.

Read more

25/05/2023 08:51

Eagers Automotive Ltd (APE) $12.85

New and used vehicle distributor APE tumbled -4.9% yesterday surrendering some of its previous impressive gains through 2023. This is one of our preferred exposures to the Australian consumer but with sentiment clearly bearish we are likely to adopt a patient stance before considering buying.

Read more

23/02/2023 16:45

Eagers Automotive (APE) $13.00

APE +8.97%: Topped the leader board today with FY22 results that met expectations while their guidance for FY23 was stronger than expected. Revenue of $8.54bn was largely inline with consensus while underlying profit before tax of $405m was around a 2% beat driven by better margins while the dividend of 71cps compared well to the 60cps expected.

Read more