Wall Street Zen Upgrades Relx (NYSE:RELX) to Buy

Key Points

• Wall Street Zen upgraded Relx from hold to buy, adding to a mixed but generally positive analyst view of the stock.
• Recent analyst moves have been mixed: Morgan Stanley downgraded Relx to equal weight, while Citigroup upgraded it to buy. Overall, MarketBeat says the stock now carries an average Moderate Buy rating.
• Relx reported strong earnings momentum in its latest quarter, with EPS of $42.81 beating consensus estimates, though revenue came in below forecasts. The stock was trading at $33.59 on Friday, well below its 52-week high of $56.33.

Relx (NYSE:RELX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other research analysts have also recently weighed in on RELX. Morgan Stanley cut shares of Relx from an "overweight" rating to an "equal weight" rating in a research report on Thursday. Citigroup upgraded shares of Relx from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 8th. Finally, Zacks Research downgraded shares of Relx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Relx has an average rating of "Moderate Buy".

Relx Stock Performance

NYSE:RELX opened at $33.59 on Friday. Relx has a one year low of $27.57 and a one year high of $56.33. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 2.38. The stock has a 50 day moving average price of $34.55 and a 200 day moving average price of $37.72.

Relx (NYSE:RELX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $42.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $41.96. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $6.70 billion. On average, analysts forecast that Relx will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Relx

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Relx by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 88,486 shares of the technology company's stock worth $2,933,000 after purchasing an additional 8,814 shares during the period. Assetmark Inc. boosted its stake in shares of Relx by 90.1% in the first quarter. Assetmark Inc. now owns 184,119 shares of the technology company's stock valued at $6,104,000 after purchasing an additional 87,281 shares during the period. Gallacher Capital Management LLC boosted its stake in shares of Relx by 16.3% in the first quarter. Gallacher Capital Management LLC now owns 13,512 shares of the technology company's stock valued at $448,000 after purchasing an additional 1,889 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Relx by 697.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 159,681 shares of the technology company's stock valued at $5,306,000 after purchasing an additional 139,663 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Relx by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 210,834 shares of the technology company's stock valued at $6,989,000 after purchasing an additional 26,466 shares in the last quarter. Hedge funds and other institutional investors own 15.02% of the company's stock.

About Relx

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX's offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

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