In a report released today, Peter Steyn from Macquarie maintained a Buy rating on Reliance Worldwide Corp. Ltd. (RLLWF – Research Report), with a price target of A$6.10. The company’s shares closed last Monday at $3.31.
According to TipRanks, Steyn is a 3-star analyst with an average return of 8.4% and a 58.06% success rate.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Reliance Worldwide Corp. Ltd. with a $3.58 average price target, which is an 8.16% upside from current levels. In a report released on May 2, Ord Minnett also maintained a Buy rating on the stock with a A$5.60 price target.
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 1,073.
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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.
