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

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.

Ricardo plc (LON:RCDO - Get Free Report)'s stock price crossed 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 traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank downgraded 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 research analysts have rated the stock with a Hold rating, According to MarketBeat, Ricardo has a consensus rating of "Hold" and a consensus target price of GBX 430.

Ricardo Price Performance

The firm has a fifty day moving average of GBX 424.44 and a two-hundred day moving average of GBX 342.29. The stock has a market capitalization of £265.03 million, a P/E ratio of 853.71 and a beta of 0.58. The company has a debt-to-equity ratio of 79.36, a current ratio of 1.86 and a quick ratio of 1.57.

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.