Renishaw (LON:RSW) Stock Passes Above 200 Day Moving Average – What’s Next?

Renishaw plc (LON:RSW) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,436.65 and traded as high as GBX 3,750. Renishaw shares last traded at GBX 3,730, with a volume of 36,961 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Renishaw from GBX 3,340 to GBX 3,940 and gave the stock a “hold” rating in a research note on Friday, October 10th. Shore Capital Group reissued a “hold” rating on shares of Renishaw in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Renishaw currently has an average rating of “Hold” and a consensus price target of GBX 3,920.

Renishaw Stock Up 2.3%

The firm has a market capitalization of £2.71 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 3.73 and a beta of 0.63. The firm has a fifty day moving average price of GBX 3,610.47 and a 200 day moving average price of GBX 3,436.65. The company has a current ratio of 5.81, a quick ratio of 3.10 and a debt-to-equity ratio of 2.05.

Insider Buying and Selling at Renishaw

In other news, insider D John Deer sold 207,050 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of GBX 3,435, for a total value of £7,112,167.50. Also, insider Richard McMurtry sold 26,376,468 shares of Renishaw stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of GBX 3,435, for a total value of £906,031,675.80. Insiders have sold 26,926,468 shares of company stock worth $92,492,417,580 in the last 90 days. Company insiders own 52.95% of the company’s stock.

Renishaw Company Profile

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.