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

Key Points

• Renishaw plc shares recently surpassed their 200-day moving average, trading at GBX 3,215 ($43.74) compared to the 200-day average of GBX 2,743.42 ($37.32).
• Analysts have issued a consensus rating of "Moderate Buy" for Renishaw with an average target price of GBX 3,620, reflecting optimism about the stock's performance.
• The company's strong financial metrics include a quick ratio of 3.10, a current ratio of 5.81, and a market capitalization of £2.34 billion.

Renishaw plc (LON:RSW - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 2,743.42 ($36.96) and traded as high as GBX 3,250 ($43.79). Renishaw shares last traded at GBX 3,215 ($43.32), with a volume of 70,936 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group restated a "buy" rating and issued a GBX 3,900 target price on shares of Renishaw in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Renishaw from GBX 3,000 to GBX 3,340 and gave the stock a "hold" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 3,620.

Renishaw Stock Performance

The firm's fifty day moving average price is GBX 3,081.61 and its 200 day moving average price is GBX 2,758.89. The firm has a market cap of £2.63 billion, a P/E ratio of 2,688.01, a price-to-earnings-growth ratio of 3.73 and a beta of 0.63. The company has a debt-to-equity ratio of 2.05, a quick ratio of 3.10 and a current ratio of 5.81.

Renishaw (LON:RSW - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The company reported GBX 137.80 earnings per share for the quarter. Renishaw had a net margin of 14.02% and a return on equity of 10.94%. Sell-side 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.