Renishaw (LON:RSW) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Renishaw plc's share price has surpassed its 200-day moving average, currently at GBX 2,768.84, with the stock trading around GBX 3,600 ($48.69).
• Analysts have set new price targets for Renishaw, with UBS Group maintaining a "buy" rating and a target price of GBX 3,900, while Deutsche Bank raised its target from GBX 3,000 to GBX 3,340.
• Renishaw reported an earnings per share (EPS) of GBX 137.80 for the last quarter, and expectations for the current fiscal year are for an EPS of approximately 159.90.

Renishaw plc (LON:RSW - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,768.84 ($37.45) and traded as high as GBX 3,610 ($48.82). Renishaw shares last traded at GBX 3,600 ($48.69), with a volume of 183,705 shares.

Analysts Set New Price Targets

RSW has been the subject of several recent analyst reports. UBS Group reaffirmed a "buy" rating and set a GBX 3,900 target price on shares of Renishaw in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft raised their target price on Renishaw from GBX 3,000 to GBX 3,340 and gave the stock a "hold" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of GBX 3,620.

Renishaw Trading Down 0.1%

The stock has a market capitalization of £2.61 billion, a PE ratio of 2,676.84, a P/E/G ratio of 3.73 and a beta of 0.63. The firm has a 50 day moving average price of GBX 3,112.06 and a 200 day moving average price of GBX 2,768.84. The company has a quick ratio of 3.10, a current ratio of 5.81 and a debt-to-equity ratio of 2.05.

Renishaw (LON:RSW - Get Free Report) last issued its quarterly earnings data on Thursday, September 18th. The company reported GBX 137.80 EPS for the quarter. Renishaw had a return on equity of 10.94% and a net margin of 14.02%. Equities analysts expect that Renishaw plc will post 159.8984772 EPS for the current fiscal year.

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.

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