Renishaw (LON:RSW) Stock Passes Above Two Hundred 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) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,734.52 ($36.89) and traded as high as GBX 3,220 ($43.44). Renishaw shares last traded at GBX 3,175 ($42.83), with a volume of 40,880 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reiterated a "buy" rating and issued a GBX 3,900 price target on shares of Renishaw in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Renishaw from GBX 3,000 to GBX 3,340 and gave the company a "hold" rating in a report on Friday. One research 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 has an average rating of "Moderate Buy" and an average price target of GBX 3,620.

Renishaw Stock Up 1.9%

The company has a debt-to-equity ratio of 2.05, a current ratio of 5.81 and a quick ratio of 3.10. The company has a market cap of £2.39 billion, a price-to-earnings ratio of 2,446.02, a price-to-earnings-growth ratio of 3.73 and a beta of 0.63. The firm's 50-day moving average price is GBX 2,995.35 and its 200-day moving average price is GBX 2,730.88.

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.