Renold (LON:RNO) Stock Price Up 40.5% - Time to Buy?

Renold plc (LON:RNO - Get Free Report) shares were up 40.5% during trading on Wednesday . The stock traded as high as GBX 78.60 ($1.06) and last traded at GBX 76.72 ($1.04). Approximately 8,440,536 shares changed hands during trading, an increase of 1,088% from the average daily volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.74).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a "buy" rating on shares of Renold in a research note on Tuesday, May 20th.

Renold Stock Performance

The company has a current ratio of 1.73, a quick ratio of 0.80 and a debt-to-equity ratio of 150.00. The company has a market cap of £178.60 million, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.10 and a beta of 0.76. The stock has a 50 day moving average price of GBX 47.56 and a two-hundred day moving average price of GBX 47.36.

Renold Company Profile

Renold plc engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally. The company operates in two segments, Chain and Torque Transmission. It offers inverted tooth chain products; and transmission chain products, including general transmission, low maintenance, abrasion and corrosion resistant, and drive chain, as well as klik-top polymer block chain and standard attachment chain.