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

Key Points

• Renishaw plc's stock price recently surpassed its 200-day moving average, indicating a potentially bullish trend in the market.
• The current market cap of Renishaw is £2.31 billion, with a notable P/E ratio of 2,364.11 and a quick ratio of 3.10.
• Shares last traded at GBX 3,175 ($42.67), up by 1.8% during the trading session.

Renishaw plc (LON:RSW - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,734.52 ($37.04) and traded as high as GBX 3,220 ($43.62). Renishaw shares last traded at GBX 3,175 ($43.01), with a volume of 40,880 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a "buy" rating and issued a GBX 3,900 target price on shares of Renishaw in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on Renishaw from GBX 3,000 to GBX 3,340 and gave the company a "hold" rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Renishaw presently has an average rating of "Moderate Buy" and a consensus target price of GBX 3,620.

Renishaw Price Performance

The company has a quick ratio of 3.10, a current ratio of 5.81 and a debt-to-equity ratio of 2.05. The company has a 50 day simple moving average of GBX 3,003.85 and a 200-day simple moving average of GBX 2,732.44. The stock has a market cap of £2.32 billion, a price-to-earnings ratio of 2,375.28, a PEG ratio of 3.73 and a beta of 0.63.

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.