Zacks Research Downgrades Renault (OTCMKTS:RNLSY) to Hold

Key Points

• Zacks Research downgraded Renault (OTCMKTS:RNLSY) from a "strong-buy" to a "hold" rating on Monday, while Berenberg also cut to hold and Morgan Stanley rates the stock "underweight"; HSBC remained a buyer.
• MarketBeat shows a consensus "Reduce" rating (1 Buy, 4 Hold, 2 Sell), and RNLSY opened at $7.30 with a 52-week range of $6.21–$11.20.

Renault (OTCMKTS:RNLSY - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. HSBC reaffirmed a "buy" rating on shares of Renault in a report on Tuesday, January 13th. Morgan Stanley lowered shares of Renault to an "underweight" rating in a report on Tuesday, February 3rd. Finally, Berenberg Bank lowered shares of Renault from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Renault currently has a consensus rating of "Reduce".

Renault Price Performance

Shares of RNLSY stock opened at $7.30 on Monday. The company's 50 day moving average is $7.04 and its 200 day moving average is $7.65. Renault has a 52-week low of $6.21 and a 52-week high of $11.20.

About Renault

Renault SA is a French multinational automobile manufacturer founded in 1899 by Louis, Marcel and Fernand Renault. Headquartered in Boulogne-Billancourt, France, the company designs, produces and distributes a wide range of passenger cars, light commercial vehicles and electric vehicles under the Renault, Dacia and Alpine brands. Renault also develops powertrains, including combustion engines and electric motors, and provides related services such as financing, leasing and fleet management.

Throughout its history, Renault has been at the forefront of automotive innovation, introducing mass-produced vehicles in the early 20th century and pioneering mass-market electric cars in the 2010s.

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