Renishaw (LON:RSW) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Renishaw plc shares have surpassed their 200-day moving average, reaching a price of GBX 3,634.71 ($49.00), a significant increase from the moving average of GBX 2,802.37 ($37.78).
• This upward trend in stock prices has been supported by recent analyst ratings, with Deutsche Bank raising its price target to GBX 3,340 while UBS maintained a buy rating with a target of GBX 3,900.
• Insider Richard McMurtry sold 8,254 shares at an average price of GBX 3,550, adding to the scrutiny of stock movements as insiders currently hold 52.95% of the stock.

Renishaw plc (LON:RSW - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,802.37 ($37.78) and traded as high as GBX 3,635 ($49.00). Renishaw shares last traded at GBX 3,634.71 ($49.00), with a volume of 124,341 shares trading hands.

Analyst Ratings Changes

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

Renishaw Trading Up 1.7%

The stock has a 50-day moving average price of GBX 3,189.36 and a two-hundred day moving average price of GBX 2,802.37. The company has a debt-to-equity ratio of 2.05, a quick ratio of 3.10 and a current ratio of 5.81. The stock has a market capitalization of £2.64 billion, a PE ratio of 2,706.41, a PEG ratio of 3.73 and a beta of 0.63.

Renishaw (LON:RSW - Get Free Report) last posted its earnings results 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%. As a group, equities analysts forecast that Renishaw plc will post 159.8984772 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard McMurtry sold 8,254 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of GBX 3,550, for a total transaction of £293,017. 52.95% of the stock is currently owned by company insiders.

About Renishaw

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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