Jefferies Group Initiates Coverage on Renasant Corp. (RNST)
Research analysts at Jefferies Group initiated coverage on shares of Renasant Corp. (NASDAQ:RNST) in a report released on Tuesday. The firm set a “buy” rating and a $32.00 price target on the stock. Jefferies Group’s price target would suggest a potential upside of 13.11% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Renasant Corp. from $30.00 to $31.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. Separately, analysts at Sandler O’Neill reiterated a “hold” rating on shares of Renasant Corp. in a research note on Tuesday, June 24th. They now have a $32.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Renasant Corp. presently has an average rating of “Buy” and an average price target of $32.50.
Renasant Corp. (NASDAQ:RNST) opened at 28.40 on Tuesday. Renasant Corp. has a 52 week low of $24.90 and a 52 week high of $32.04. The stock has a 50-day moving average of $28.86 and a 200-day moving average of $28.50. The company has a market cap of $895.1 million and a P/E ratio of 18.71.
Renasant Corp. (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that Renasant Corp. will post $1.86 earnings per share for the current fiscal year.
In other Renasant Corp. news, Director Theodore Moll purchased 3,000 shares of Renasant Corp. stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $28.59 per share, for a total transaction of $85,770.00. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Renasant Corporation is a bank holding company. The Company owns and operates Renasant Bank (NASDAQ:RNST), a Mississippi banking association with operations in Mississippi, Tennessee, Alabama and Georgia, and Renasant Insurance, Inc, a Mississippi corporation with operations in Mississippi.
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