Looking at Robert Walters as a potential buy.

Green lights for me are:
- Sales growth of 24.6% in the last six months versus the same period last year, and 25.7% for the six months before that.
- Looks to be well diversified across different countries
- EPS growth and expected to grow further
- Well above its 52 week low and now trading at or close to its all time high.
- RSI above 70
- F-score of 8
- Good free cash flow % v post tax profits
- ROCE of around 27%
- PEG less than 1
- Low long term debt versus cash and profits
- Broker research shows two buy with one giving a target of 700.

Amber lights for me:
- Doesn't have three quarters in a row of growing sales, earnings and net profit margins but is that to do with seasonality?
- Debtors up at a higher rate than sales but cash is up and creditors down so I can probably live with that.
- Have I missed the boat on this already? Directors sell at around 590.
- Operating margin only around 2.92% but is that the nature of the industry?
- When I looked reported PE was 24.5 forward was 16.9 and average was 23.2 so again have I missed the boat?
-NTAV v Share price - relevant in this case?
- Div yield only 1.34% but div cover 2.99 - could find anything about div policy
- Earnings yield 4.36% according to 3rd party website
- Current ratio around 1.38

Red lights for me:
- Market to book price looks high but is it relevant in this case
- Recent director sells at 590?

Further research needed:
- Market prospects
- Competitive advantage?
- Main shareholders?

Thoughts welcome

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