Macquarie analyst Peter Steyn maintained a Buy rating on Reliance Worldwide Corp. Ltd. (RLLWF – Research Report) today and set a price target of A$6.10. The company’s shares closed last Monday at $3.52.
According to TipRanks, Steyn is a 4-star analyst with an average return of 12.0% and a 64.29% success rate. Steyn covers the Basic Materials sector, focusing on stocks such as Brickworks Ltd, ADBRI, and Boral Limited.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Reliance Worldwide Corp. Ltd. with a $3.51 average price target.
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RLLWF market cap is currently $2.95B and has a P/E ratio of 22.26.
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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.
