In a report released today, Rohan Gallagher from Jarden maintained a Buy rating on Reliance Worldwide Corp. Ltd. (RLLWF – Research Report), with a price target of A$5.25. The company’s shares closed yesterday at $3.60.
According to TipRanks, Gallagher is a 2-star analyst with an average return of 1.6% and a 50.00% success rate. Gallagher covers the Basic Materials sector, focusing on stocks such as Bluescope Steel Limited, Boral Limited, and ADBRI.
Currently, the analyst consensus on Reliance Worldwide Corp. Ltd. is a Strong Buy with an average price target of $3.49.
The company has a one-year high of $4.01 and a one-year low of $2.10. Currently, Reliance Worldwide Corp. Ltd. has an average volume of 633.
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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.
