Rolls-Royce Group plc Lowered to Add at Investec (RYCEY)
Rolls-Royce Group plc (NASDAQ:RYCEY) was downgraded by stock analysts at Investec to an “add” rating in a report issued on Wednesday, StockRatingsNetwork.com reports. They currently have a $1,180.00 price target on the stock, down from their previous price target of $1,340.00.
Rolls-Royce Group plc (NASDAQ:RYCEY) traded up 3.03% during mid-day trading on Wednesday, hitting $89.59. 40,115 shares of the company’s stock traded hands. Rolls-Royce Group plc has a 52 week low of $66.95 and a 52 week high of $95.64. The stock has a 50-day moving average of $89.14 and a 200-day moving average of $88.38. The company has a market cap of $33.381 billion and a price-to-earnings ratio of 28.42.
A number of other firms have also recently commented on RYCEY. Analysts at Liberum Capital reiterated a “buy” rating on shares of Rolls-Royce Group plc (NASDAQ:RYCEY) in a research note to investors on Friday, September 13th. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Rolls-Royce Group plc (NASDAQ:RYCEY) in a research note to investors on Friday, August 30th. They now have a $1,370.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Rolls-Royce Group plc (NASDAQ:RYCEY) in a research note to investors on Wednesday, August 21st. They now have a $1,300.00 price target on the stock.
Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,177.31.
Rolls-Royce Holdings plc, formerly Rolls-Royce Group plc is a provider of power systems and services for use on land, at sea and in the air.
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