Renishaw (LON:RSW) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Renishaw plc (LON:RSW)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4,742.82 and traded as high as GBX 5,275. Renishaw shares last traded at GBX 5,190, with a volume of 156,962 shares traded.

Analysts Set New Price Targets

RSW has been the subject of several analyst reports. Peel Hunt reiterated a “buy” rating and issued a GBX 6,300 price objective on shares of Renishaw in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on Renishaw from GBX 4,960 to GBX 5,600 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group upgraded Renishaw to a “buy” rating and set a GBX 6,090 price target on the stock in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Renishaw presently has an average rating of “Moderate Buy” and a consensus target price of GBX 5,996.67.

Renishaw Trading Up 0.4%

The company has a quick ratio of 3.10, a current ratio of 4.57 and a debt-to-equity ratio of 1.60. The firm has a market cap of £3.78 billion, a P/E ratio of 50.93, a price-to-earnings-growth ratio of 3.73 and a beta of 1.13. The firm’s 50-day simple moving average is GBX 5,051.99 and its 200 day simple moving average is GBX 4,742.82.

About Renishaw

We are a world leader in measuring and manufacturing systems.

Our products give high accuracy and precision, gathering data to provide customers and end users with traceability and confidence in what they’re making. This technology also helps our customers to innovate their products and processes.

We are guided by our purpose: Transforming Tomorrow Together. This means working with our customers to make the products and the materials that are going to be needed for the future.

We believe that our purpose is incredibly relevant in today’s environment where the pace of change in technology is faster than ever.