Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Asbury Automotive Group has reported mixed results for the second quarter of 2024, which reflect both a resilient operational performance and significant challenges due to a system outage.</li><li>A detailed analysis highlights both the strengths and areas of concern for the company during this period.</li><li>Asbury faced a major operational disruption beginning on June 19, due to an outage with their dealer management system (DMS) provided by CDK.</li></ul>

The Asbury Automotive Group has reported mixed results for the second quarter of 2024, which reflect both a resilient operational performance and significant challenges due to a system outage.A detailed analysis highlights both the strengths and areas of concern for the company during this period.Asbury faced a major operational disruption beginning on June 19, due to an outage with their dealer management system (DMS) provided by CDK.

Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? - Major Drivers

<ul><li>Asbury Automotive Group's first quarter earnings report for 2024 exhibits a mix of positive and negative highlights, underpinned by a resilient performance amidst several challenges.</li><li>The company achieved a milestone by reporting $4.2 billion in revenue, which demonstrates the strength and resilient performance of their team.</li><li>One of the key strengths was the company's used unit volume, which increased by over 9% (2,700 units) versus the fourth quarter of 2023.</li></ul>

Asbury Automotive Group's first quarter earnings report for 2024 exhibits a mix of positive and negative highlights, underpinned by a resilient performance amidst several challenges.The company achieved a milestone by reporting $4.2 billion in revenue, which demonstrates the strength and resilient performance of their team.One of the key strengths was the company's used unit volume, which increased by over 9% (2,700 units) versus the fourth quarter of 2023.

Asbury Automotive Group Inc.: Continued Focus on Preowned Car Sourcing and Sales! - Major Drivers

<ul><li>This is our first report on Asbury Automotive Group Inc. The company's fourth quarter 2023 earnings showcased a year of considerable growth and progress.</li><li>The company delivered $14.8 billion in revenue, had a gross profit margin of 18.6%, and an adjusted earnings per share of $32.60.</li><li>Asbury generated an adjusted operating margin of 7.3% and an adjusted EBITDA of over $1.1 billion.</li></ul>

This is our first report on Asbury Automotive Group Inc. The company's fourth quarter 2023 earnings showcased a year of considerable growth and progress.The company delivered $14.8 billion in revenue, had a gross profit margin of 18.6%, and an adjusted earnings per share of $32.60.Asbury generated an adjusted operating margin of 7.3% and an adjusted EBITDA of over $1.1 billion.

Asbury Automotive Group: Initiation of Coverage - A Dive Into Its Core Business Strategy & 5 Pivotal Factors Driving Its Growth! - Financial Forecasts

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Consumer Discretionary Select / Technical Analysis

<ul>
<li>We continue to believe that the bear market lows have already been established.</li>
<li>It remains to be seen whether the indexes will experience a meaningful pullback first, or whether we are already experiencing the initial leg of a new bull market.</li>
<li>Thus far, market indexes have ignored overbought conditions, which is historically a sign of strength during the initial leg of new bull markets.</li>
</ul>


We continue to believe that the bear market lows have already been established.
It remains to be seen whether the indexes will experience a meaningful pullback first, or whether we are already experiencing the initial leg of a new bull market.
Thus far, market indexes have ignored overbought conditions, which is historically a sign of strength during the initial leg of new bull markets.


Upgrading Discretionary to Overweight, Downgrading Energy & Health Care to Market Weight

Invesco QQQ Trust Series 1 / Technical Analysis

<ul>
<li>Following panic selling that we have outlined over the past month, we finally saw panic buying last Friday in the form of 92% upside volume on the NYSE.</li>
<li>There is hope that this panic buying could signal a major bottom, but we still need to see more confirmation before declaring that the low is in.</li>
<li>We are watching the Nasdaq 100 (QQQ) and the steep RS uptrends on Utilities (XLU) and Staples (XLP) for more confirmation that a major low is in place. Details below.</li>
</ul>


Following panic selling that we have outlined over the past month, we finally saw panic buying last Friday in the form of 92% upside volume on the NYSE.
There is hope that this panic buying could signal a major bottom, but we still need to see more confirmation before declaring that the low is in.
We are watching the Nasdaq 100 (QQQ) and the steep RS uptrends on Utilities (XLU) and Staples (XLP) for more confirmation that a major low is in place. Details below.


Panic Buying Achieved, Waiting for More Confirmation of a Bottom;Buying Staples & Auto Dealers/Parts

United States

Asbury Automotive Group Inc. is an automotive retailer operating franchises and dealership locations in the United States.  The Company offers new and used vehicles and related financing and insurance, vehicle maintenance and repair services, replacement parts, and service contracts.  Asbury's dealerships are primarily either luxury or mid-line import brands.

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Asbury Automotive (ABG US)

Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? - Major Drivers

The Asbury Automotive Group has reported mixed results for the second quarter of 2024, which reflect both a resilient operational performance and...

Baptista Research

Asbury Automotive Group Inc.: Continued Focus on Preowned Car Sourcing and Sales! - Major Drivers

Asbury Automotive Group's first quarter earnings report for 2024 exhibits a mix of positive and negative highlights, underpinned by a resilient...

Baptista Research

Asbury Automotive Group: Initiation of Coverage - A Dive Into Its Core Business Strategy & 5 Pivotal Factors Driving Its Growth! - Financial Forecasts

This is our first report on Asbury Automotive Group Inc. The company's fourth quarter 2023 earnings showcased a year of considerable growth and...

Baptista Research

Upgrading Discretionary to Overweight, Downgrading Energy & Health Care to Market Weight

Upgrading Discretionary $XLY to Overweight, Downgrading Energy $XLE & Health Care $XLV to Market Weight; Many indexes with major bullish...

Vermilion Research

Panic Buying Achieved, Waiting for More Confirmation of a Bottom;Buying Staples & Auto Dealers/Parts

We finally saw panic buying last Friday in the form of 92% upside volume on the NYSE. There is hope that this panic buying could signal that a...

Vermilion Research

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