Renishaw (LON:RSW) Rating Lowered to Underweight at Morgan Stanley

Renishaw (LON:RSW) was downgraded by Morgan Stanley to an “underweight” rating in a research report issued on Thursday, Digital Look reports. They presently have a GBX 4,400 ($57.49) price target on the stock, down from their previous price target of GBX 5,800 ($75.78). Morgan Stanley’s target price indicates a potential downside of 7.83% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Barclays reissued an “underweight” rating and issued a GBX 4,695 ($61.34) target price on shares of Renishaw in a report on Monday, October 25th. Berenberg Bank reiterated a “buy” rating and set a GBX 6,600 ($86.23) price objective on shares of Renishaw in a research report on Wednesday, November 17th.

Renishaw stock traded down GBX 222 ($2.90) during mid-day trading on Thursday, hitting GBX 4,774 ($62.37). The company had a trading volume of 34,772 shares, compared to its average volume of 72,541. The company has a current ratio of 4.79, a quick ratio of 3.50 and a debt-to-equity ratio of 2.85. The stock’s 50 day moving average price is GBX 5,040.24 and its two-hundred day moving average price is GBX 5,221.45. Renishaw has a 12 month low of GBX 4,316 ($56.39) and a 12 month high of GBX 7,025 ($91.78). The company has a market capitalization of £3.47 billion and a PE ratio of 31.18.

Renishaw Company Profile

Renishaw plc, an engineering and scientific technology company, designs, manufactures, distributes, sells, and services metrology and healthcare products worldwide. The company offers co-ordinate measuring machine (CMM) products, machine tool probe systems, styli for probe systems, performance measurement systems, gauging systems, fixtures, and position encoders; additive manufacturing systems; plastics vacuum casting machines; and mapping sensors.

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