In a report released today, James Casey from Ord Minnett maintained a Buy rating on Brickworks Ltd (BRKWF – Research Report), with a price target of A$32.00. The company’s shares closed last Friday at $16.50.
Casey covers the Industrial Goods sector, focusing on stocks such as ARB Corporation Limited, Reece Limited, and Reliance Worldwide Corp. Ltd.. According to TipRanks, Casey has an average return of -9.2% and a 21.95% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Brickworks Ltd with a $17.83 average price target.
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BRKWF market cap is currently $2.31B and has a P/E ratio of 3.73.
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Brickworks Ltd is a manufacturer and distributor of bricks. The company was founded in 1934 by a group of Sydney brick manufacturers to survive the Great Depression. Over the years the company has diversified into roof tiles, pavers and pre-cast concrete panels and has established a leading presence across all major states. Brickworks also holds a 39.4% interest in Washington H. Soul Pattinson (ASX:SOL). More recently, capital has been released via the sale of surplus industrial land or transferring it to an industrial real estate trust joint venture with the Goodman Group.