Jarden analyst Anderson Chow maintained a Hold rating on Reliance Worldwide Corp. Ltd. (RLLWF – Research Report) yesterday and set a price target of A$3.40. The company’s shares closed last Tuesday at $1.92.
According to TipRanks, Chow is an analyst with an average return of -6.9% and a 46.88% success rate. Chow covers the Basic Materials sector, focusing on stocks such as Sims, Brickworks Ltd, and ADBRI.
Currently, the analyst consensus on Reliance Worldwide Corp. Ltd. is a Moderate Buy with an average price target of $2.66.
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RLLWF market cap is currently $1.7B and has a P/E ratio of 12.77.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RLLWF in relation to earlier this year.
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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.
