The recent results season was generally positive for ASX shares.
Although many companies declined to provide forecasts due to the current spread of the Delta variant of COVID-19, the 2021 earnings were mostly up from the previous years.
But the S&P/ASX 200 Index (ASX: XJO) hasn't actually moved that much. In fact, the index has lost 0.13% over the past month.
So there must be a few ASX shares out there whose results were under-respected by investors?
Two experts recently each weighed in with an example.
It's already run hard, but this is only the start of the marathon
Market Matters portfolio manager James Gerrish thought Aussie Broadband Ltd (ASX: ABB) presented excellent results.
"So obviously the stock has run pretty hard, but they're growing customers at a really strong clip," he told a Livewire video.
In fact, shares for the internet services provider has risen more than 40% over the past month. Just on Monday, the stock rose 7.7% after the business announced a fibre swap agreement.
But Gerrish believes it still has legs for a further climb.
"If we look further out over the next 12 months, they've got a really interesting pipeline of potential acquisitions and growth is going to tick higher," he said.
"So not only has it had a good run but it's got some catalyst over the next 12 months to drive it higher."
Aussie Broadband shares are in a trading halt on Tuesday morning pending a capital raising announcement.
Record result, and it's sustainable
1851 Capital chief investment officer Chris Stott reckoned not enough investors have appreciated Eagers Automotive Ltd (ASX: APE) presented a "record result".
"People don't believe that [it] can maintain these current elevated margins going into the next 1 or 2 years."
But according to Stott, the management of the car dealership network has refuted this.
"The company made a really good point of saying to the market that they think those margins are sustainable over the medium to longer term," he said.
"So we think that that's one that certainly was underappreciated by the market, but delivered an outstanding record result."
Eagers shares have risen 6.36% over the past month. They have gained a stunning 89% in the past year thanks to a surge in demand for private transport.
