Reliance is a high-quality plumbing supplies company with a dominant brand in PTC.
We lift our fair value estimate to AUD 2.70 from AUD 2.50 per share, following Reliance Worldwide’s interim 2017 result. NPAT of AUD 35.3 million exceeded our estimate by 7% and puts Reliance on track to exceed prospectus forecasts. We’ve lifted our NPAT forecasts (up 11% in 2017 and up 3% in 2018) on the back of slightly higher U.S. margins (cost-out benefits) and lower currency assumptions (Australian dollar/U.S. dollar). We now forecast EPS CAGR of 14.5% for fiscal 2017-21, supported by impro...Reliance Worldwide Corporation is a limited liability company. Co. is principally engaged in the design, manufacture and supply of high quality, reliable and premium branded water flow and control products and solutions for the plumbing industry. Co. manufacturers brass Push-to Connect (PTC) plumbing fittings, sold under the SharkBite brand. Co. operates through the following four product segments: Fittings and Pipe, Control Valves, Thermostatic Products and Other Products. Co. has 12 manufacturing facilities across Australia, New Zealand, the United States of America and Spain.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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