Ricardo (LON:RCDO) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Ricardo plc stock price surpassed its 200-day moving average, reaching GBX 428 ($5.77) during trading, which could indicate positive momentum.
• Berenberg Bank downgraded the stock to a "hold" rating and reduced its price target from GBX 440 to GBX 430, as two analysts now rate the stock with a Hold consensus.
• The company has a market capitalization of £265.03 million, with a high P/E ratio of 853.71 and a notable debt-to-equity ratio of 79.36.

Shares of Ricardo plc (LON:RCDO - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 341.48 ($4.60) and traded as high as GBX 428 ($5.77). Ricardo shares last traded at GBX 426 ($5.74), with a volume of 65,542 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank downgraded shares of Ricardo to a "hold" rating and decreased their target price for the stock from GBX 440 to GBX 430 in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of GBX 430.

Ricardo Price Performance

The stock's 50 day moving average price is GBX 424.44 and its two-hundred day moving average price is GBX 342.29. The company has a debt-to-equity ratio of 79.36, a current ratio of 1.86 and a quick ratio of 1.57. The firm has a market capitalization of £265.03 million, a price-to-earnings ratio of 853.71 and a beta of 0.58.

About Ricardo

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services together with safe and smart mobility.