Tag: REH
Reece and GWA: A tale of two giants
It was a very different market reaction on Monday to the full-year results of plumbing supplier Reece (ASX:REH) than we saw for the interim back on 26 February. Then, a 5% lift in EBIT and a 20% jump in statutory earnings – 6% higher after dropping one-off items – but a steady dividend saw the shares surge more than 18% on the day to $28.50.
Read MoreReece surges despite analysts’ erroneous predictions
Analysts found themselves off the mark when assessing the half-year results of plumbing supplies giant Reece (ASX:REH), as evidenced by the surprising 18% surge in share price witnessed yesterday, following a remarkable 70% increase in value over the past year.
Read MoreREH – Morgans rates the stock as Hold
Hold rating is maintained. The target is reduced to $18.25 from $20.10.
Read MoreREH – Morgans rates the stock as Hold
Morgans raises its target price to $20.10 from $18.40. However, the valuation is regarded as full and the Hold rating is maintained.
Read MoreOur vacations might not be the only thing ‘staying local’ for a while
Australian investors are known to be very parochial, and have historically reflected this attitude with a home bias – possibly because of the lure of familiarity with companies, franking credits and the currency hedge (most spend in Australian dollars).
Read MoreREH – Morgans rates the stock as Hold
The FY20 result for Reece was slightly above Morgans expectations, despite underlying earnings margins falling -70 basis points to 8.9%.
Read MoreREH – Citi rates the stock as Sell
Citi expects working capital will lift to 20% of sales in FY21 and remain at that level going forward.
Read MoreReece Taps Investors For Capital, Qube Scraps Outlook
A busy day yesterday for fundraisings with plumbing supplies giant Reece becoming another company to ask shareholders for a new investment – this time it was $600 million.
Read MoreUpbeat US Outlook Underpins Reece
While Australia’s subdued building activity is likely to weigh for some time yet, Reece Group is experiencing success as it consolidates a fragmented US market.
Read MoreREH – Morgans rates the stock as Downgrade to Hold from Add
Following recent share price strength, amid expectations of a cyclical upswing, Morgans downgrades to Hold from Add.
Read MoreNo Shortage Of Excellent Environmental Share Price Performances
Many environmental stocks have shown outstanding share price performance since listing. Here are seven examples that prove that good stock selection among environmental stocks can lead to excellent share price performance and capital gains.
Read MoreReece Dives Deeper Into US Market
Melbourne-based Reece Group has further expanded in the US with the $A220 million acquisition of a Southern California plumbing supply wholesaler, Todd Pipe & Supply.
Read MoreREH – Morgans rates the stock as Initiation of coverage with Add
Morgans notes strategically located distribution centres offer a wide range of products from premium brands, enabling the company to capture large-scale contractors with comprehensive requirements.
Read MoreReece Taps Into US Housing In $1.9b Deal
One of Australia’s richest and most private families has shown the benefits of controlling a big stake in a listed company in yesterday’s $A1.9 million acquisition in the US by Melbourne based plumbing supplies group, Reece Group.
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