What Happened to Reece’s Share Price?
Shares in Reece Australia Ltd [ASX: REH] rose over 4% today. The company supplies plumbing and bathroom products throughout Australia and New Zealand. The stock is now trading at all time highs.
Why Did This Happen to Reece Shares?
The stock market is pricing in strong earnings for the company. Yesterday the company released its half year results to the market. It had record first half sales and profit.
What Now for Reece?
In general, Reece is a tightly held stock. As long as Australia stays out of recession, the prospects for the company look bright. That should keep the share price high. A strong housing market means the good times for Reece should continue.
Editor, Markets and Money