The three ASX shares I'm going to mention in this article are rated as 'buys' by several brokers.
It's quite hard to find businesses that are both good businesses and trading at a good price. Even then, one person might say Commonwealth Bank of Australia (ASX: CBA) and another says that Transurban Group (ASX: TCL) is a better choice.
Investment site MarketIndex regularly collates the ratings of brokers together to assess what the broker community collectively think are opportunities. Of course, this still isn't a guarantee of success – they could all be herding together.
With that in mind, here are three ASX shares that brokers like:
James Hardie Industries plc (ASX: JHX)
Industrial building materials company James Hardie is rated as a buy by at least 10 brokers, which is one of the highest amount of positive ratings.
Its share price has fallen 18% over the past year, so that gives investors the opportunity to pick it up at a substantially cheaper price. Don't forget, the company is continuing to grow its profit and is trading at only 21x FY19's estimated earnings.
Bapcor Ltd (ASX: BAP)
Auto parts company Bapcor is rated as a buy by at least six analysts. Its share price has fallen by around 15% over the past six months.
It could be a good one to own because auto parts is a pretty defensive industry – if a part breaks on your car you have to get it fixed. Bapcor continues to roll out more Bursons and Autobarns in Australia whilst also starting to expand in Asia.
Bapcor is predicting an increase of net profit after tax (NPAT) of around 9% in FY19, which would be a solid result in the current economic environment.
Reliance Worldwide Corporation Ltd (ASX: RWC)
Plumbing business Reliance, a world leader in brass push-to-connect plumbing systems, is rated as a buy by at least nine analysts.
Reliance is down around 25% since its all-time high in August 2018, but there's plenty to be positive about including solid organic growth, the integration of the John Guest acquisition is going well and bottom line earnings per share (EPS) keeps going up.
It's now trading at 22x FY19's estimated earnings.
Foolish takeaway
There's a lot to like about each of these businesses and the valuations they're trading at, particularly for the fact that they are generating international earnings growth.
