Relx (NYSE:RELX) Upgraded to Buy at Citigroup

Key Points

• Citigroup upgraded Relx (NYSE:RELX) from "neutral" to a buy rating in a research note issued Wednesday.
• Analyst coverage is mixed but leans positive — one "Strong Buy", four "Buy" and two "Hold" ratings, yielding an average rating of "Moderate Buy".
• Several large institutional investors significantly increased positions recently, notably Capital International Investors (up 66.7% to 10.66M shares), with Millennium, Arrowstreet and others also adding exposure.

Relx (NYSE:RELX - Get Free Report) was upgraded by Citigroup from a "neutral" rating to a "buy" rating in a research note issued on Wednesday,Finviz reports.

RELX has been the topic of a number of other research reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Relx in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised Relx from a "hold" rating to a "buy" rating in a report on Tuesday, December 9th. Zacks Research lowered Relx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Morgan Stanley reissued an "overweight" rating on shares of Relx in a report on Monday, February 2nd. Finally, Wall Street Zen lowered Relx from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Relx currently has an average rating of "Moderate Buy".

Relx Stock Performance

NYSE:RELX opened at $33.34 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.49 and a quick ratio of 0.44. The stock's 50 day simple moving average is $32.86 and its 200-day simple moving average is $39.19. Relx has a 12-month low of $27.57 and a 12-month high of $56.33.

Relx (NYSE:RELX - Get Free Report) last released its earnings results on Wednesday, February 11th. The technology company reported $42.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $41.96. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $6.70 billion. As a group, analysts expect that Relx will post 1.68 earnings per share for the current year.

Institutional Trading of Relx

A number of large investors have recently made changes to their positions in RELX. Capital International Investors boosted its stake in shares of Relx by 66.7% during the fourth quarter. Capital International Investors now owns 10,662,595 shares of the technology company's stock valued at $433,887,000 after acquiring an additional 4,264,474 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in Relx by 622.0% during the second quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company's stock worth $73,369,000 after buying an additional 1,163,189 shares during the period. Millennium Management LLC lifted its position in Relx by 251.6% during the fourth quarter. Millennium Management LLC now owns 1,207,191 shares of the technology company's stock worth $48,795,000 after buying an additional 863,856 shares during the period. Voloridge Investment Management LLC purchased a new position in Relx during the third quarter worth about $39,737,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Relx by 80.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,488,278 shares of the technology company's stock worth $60,156,000 after buying an additional 664,888 shares during the period. Institutional investors and hedge funds own 15.02% of the company's stock.

About Relx

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX's offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

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