Barclays Lowers Ralliant (NYSE:RAL) Price Target to $59.00

Key Points

• Barclays has lowered the price target for Ralliant (NYSE:RAL) from $60.00 to $59.00, while maintaining an "overweight" rating, indicating a potential upside of 31.34% based on the stock's last closing price.
• Various analysts have given mixed ratings for Ralliant, with consensus currently at a "Hold" and an average price target of $56.80.
• After reporting quarterly earnings that beat expectations, Ralliant's stock rose by 0.9% to $44.92, despite having a trading volume lower than its average.

Ralliant (NYSE:RAL - Get Free Report) had its price target lowered by stock analysts at Barclays from $60.00 to $59.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 31.34% from the stock's previous close.

RAL has been the topic of a number of other reports. Seaport Res Ptn raised Ralliant to a "hold" rating in a research note on Monday, July 14th. Melius Research upgraded Ralliant to a "hold" rating in a research report on Tuesday, July 22nd. Citigroup initiated coverage on Ralliant in a research note on Monday, July 21st. They set a "neutral" rating and a $53.00 price objective on the stock. Evercore ISI initiated coverage on Ralliant in a report on Friday, July 18th. They issued an "in-line" rating and a $52.00 target price for the company. Finally, Wall Street Zen raised Ralliant to a "hold" rating in a research note on Sunday, July 13th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $56.80.

Ralliant Stock Up 0.9%

Shares of NYSE:RAL traded up $0.39 during trading on Wednesday, reaching $44.92. The stock had a trading volume of 1,857,499 shares, compared to its average volume of 2,797,637. Ralliant has a 1-year low of $42.00 and a 1-year high of $55.08.

Ralliant (NYSE:RAL - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. The firm had revenue of $503.30 million during the quarter, compared to analyst estimates of $509.90 million.

Hedge Funds Weigh In On Ralliant

Several large investors have recently modified their holdings of RAL. Dodge & Cox purchased a new stake in shares of Ralliant in the 2nd quarter valued at $523,571,000. Flossbach Von Storch SE purchased a new stake in shares of Ralliant in the 2nd quarter valued at $198,077,000. Norges Bank purchased a new stake in shares of Ralliant in the 2nd quarter valued at $108,453,000. Invesco Ltd. purchased a new stake in shares of Ralliant in the 2nd quarter valued at $98,753,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Ralliant in the 2nd quarter valued at $97,090,000.

About Ralliant

Ralliant Corporation is a provider of precision technologies which specializes in designing, developing, manufacturing and servicing precision instruments and engineered products. Ralliant Corporation is based in RALEIGH, N.C.

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