These were the best performing ASX 200 shares last week

These ASX 200 shares were on form last week…

| More on:
A woman throws her hands in the air in celebration as confetti floats down around her, standing in front of a deep yellow wall.

Image source: Getty Images

A selloff on Friday led to the S&P/ASX 200 Index (ASX: XJO) ending its winning streak last week. The benchmark index lost 1.2% over the five days to end the period at 7,323.7 points.

Fortunately, not all shares were dragged lower with the market. Here’s why these were the best performing ASX 200 shares last week:

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price was the best performer last week with a gain of 11.2%. Investors were buying this plumbing parts company’s shares after it announced an agreement to acquire EZ-FLO International for US$325 million. EZ-FLO is a leading manufacturer and distributor of plumbing supplies. In response, the team at Macquarie upgraded the company’s shares to an outperform rating with a $5.95 price target.

Reece Ltd (ASX: REH)

The Reece share price wasn’t far behind with a gain of 10% over the five days. The catalyst for this was the release of the plumbing parts company’s first quarter update. That update revealed sales growth of 13.2% for the three months ended 30 September. In light of this solid performance, management advised that it expects its first half EBITDA to grow 8% to 11% over the prior corresponding period.

GUD Holdings Limited (ASX: GUD)

The GUD share price was on form and charged 7.5% higher last week. This follows the announcement of an agreement to acquire specialist lighting company Vision-X for US$53 million. UBS was pleased with the acquisition and expects it to open the door to an expansion into Europe and North America. In response, the broker retained its buy rating and lifted its price target to $12.90.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was a positive performer and rose 7.2% over the period. This was despite there being no news out of the rare earths producer last week. However, a week earlier, the Lynas share price was sold off after the release of its quarterly update. Some investors may have seen this as a buying opportunity.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Young woman in yellow striped top with laptop raises arm in victory
Share Gainers

These were the best performing ASX 200 shares last week

The S&P/ASX 200 Index (ASX: XJO) had a week to forget after the US Federal Reserve indicated that it would start to …

Read more »

An oil miner with his thumbs up.
Energy Shares

Why are AGL (ASX:AGL) shares having such a stellar start to 2022 while the ASX 200 is struggling?

Key points AGL was one of the worst performing ASX 200 shares of 2021 But 2022 has given this company …

Read more »

Concept image of a businessman riding a bull on an upwards arrow.
Share Gainers

Why Champion Iron, Dusk, Hipages, and Imugene shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is rebounding strongly from recent declines. At the time of writing, …

Read more »

a smiling woman holds up two fingers and winks.
Share Gainers

Top 2 ASX 200 shares of the year so far revealed

S&P/ASX 200 Index (ASX: XJO) shares as a whole haven’t gotten off to the strongest of starts in 2022. After …

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Share Gainers

Why Beach, Jumbo, Premier Investments, and Western Areas are pushing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another disappointing decline. At the time of …

Read more »

A man in a blue collared shirt sits at his desk doing a single fist pump as he watches his Neometals shares rising on his laptop
Resources Shares

Why is the BHP (ASX:BHP) share price leaping ahead today?

The S&P/ASX 200 Index (ASX: XJO) has unfortunately slipped into negative territory so far this Thursday, after an initially strong market …

Read more »

Businessman in suit and holding a briefcase jumps into the sky celebrating the rising Enero share price
Share Gainers

‘Exclusive provider’: Genworth (ASX:GMA) share price leaps 12% on CBA deal

Key points Genworth is cruising today following a company announcement The company has been selected as the exclusive provider of …

Read more »

A group of people cheer at a blackjack table in a casino
Share Gainers

Why the PointsBet (ASX:PBH) share price is rocketing 9% today

Key points The online gambling market continues to grow West Virginia becomes the third US state to host PointsBet’s online …

Read more »