Jefferies analyst Simon Thackray maintained a Buy rating on Reliance Worldwide Corp. Ltd. (RLLWF – Research Report) yesterday and set a price target of A$5.40. The company’s shares closed last Tuesday at $2.64.
Thackray covers the Basic Materials sector, focusing on stocks such as James Hardie, Bluescope Steel Limited, and Sims. According to TipRanks, Thackray has an average return of -4.2% and a 40.00% success rate on recommended stocks.
In addition to Jefferies, Reliance Worldwide Corp. Ltd. also received a Buy from Citi’s Samuel Seow in a report issued on February 20. However, on the same day, Morgan Stanley maintained a Hold rating on Reliance Worldwide Corp. Ltd. (Other OTC: RLLWF).
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The company has a one-year high of $3.69 and a one-year low of $2.10. Currently, Reliance Worldwide Corp. Ltd. has an average volume of 923.
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Reliance Worldwide Corp. Ltd. (RLLWF) Company Description:
Reliance Worldwide Corp. designs and manufactures branded, high-quality plumbing products. Reliance operates in North American, European and Australasian plumbing product markets, with 70% of sales derived from the U.S. in fiscal 2018. Key products include pipe fittings and related pipe, control valves and thermostatic products. Reliance’s SharkBite-branded brass PTC plumbing fittings are a labour-saving innovation. Its disruptive entry into the plumbing fittings market in 2004 has provided strong growth for Reliance. Reliance’s SharkBite enjoys an estimated 90% share of the brass PTC plumbing fittings category. Reliance markedly increased its European market exposure through the acquisition of John Guest in 2018, a leading U.K. plastic PTC fitting and pipe manufacturer.
