Two fund managers share their thoughts on three of the highest returning ASX200 stocks - and two being overlooked.
I’ve got a buy on James Hardie. Look, it’s been slammed for a couple of reasons. One, obviously the 30-year mortgage rate in the US has gone up. And so, therefore, people are worried about housing stats in the US, which is understandable.
So we think, we’re not probably not catching a falling knife a little bit here probably a little bit early, but we think it’s a buy at this level.Yeah, it actually is. I agree with what Anthony said too. At the end of the day, it’s a quality business, which is growing its share of the siding market. They’re doing a few extra things in terms of value-added products. They’re moving to stucco, which is obviously big in California.
They’re basically timber frames with some siding whacked on, and they’ve got to change that much more regularly. Only Hardie plank lasts longer, but there’s a lot of old vinyl stuff out there that needs to be continually re-skinned.So there’s a good underlying level of demand there as well, and it’s fallen far enough now that particularly in that growth part of the market for a business of that quality, it looks good value.
We think that looking over the next couple of years, I think you’ve got the hotels business, you’re seeing the lead indicators, i.e. bookings, yeah, looking very good.
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