Renishaw (LON:RSW) Stock Passes Above 200-Day Moving Average – Time to Sell?

Renishaw plc (LON:RSW) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3,159.89 and traded as high as GBX 3,565. Renishaw shares last traded at GBX 3,560, with a volume of 34,040 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RSW. UBS Group reiterated a “buy” rating and set a GBX 3,900 price target on shares of Renishaw in a report on Friday, September 5th. Shore Capital reaffirmed a “hold” rating on shares of Renishaw in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Renishaw from GBX 3,340 to GBX 3,940 and gave the company a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of GBX 3,920.

Renishaw Stock Up 2.4%

The business has a 50 day simple moving average of GBX 3,543.63 and a 200 day simple moving average of GBX 3,159.89. The company has a market capitalization of £2.59 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 3.73 and a beta of 0.63. The company has a debt-to-equity ratio of 2.05, a current ratio of 5.81 and a quick ratio of 3.10.

Renishaw (LON:RSW) last released its earnings results on Thursday, September 18th. The company reported GBX 137.80 EPS for the quarter. Renishaw had a return on equity of 10.94% and a net margin of 14.02%. As a group, equities analysts predict that Renishaw plc will post 159.8984772 earnings per share for the current fiscal year.

Insider Activity at Renishaw

In other news, insider Allen Roberts sold 4,370 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of GBX 3,656, for a total transaction of £159,767.20. Also, insider Richard McMurtry sold 26,376,468 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of GBX 3,435, for a total value of £906,031,675.80. Insiders sold a total of 26,946,984 shares of company stock worth $92,566,472,832 in the last ninety days. Corporate insiders own 52.95% of the company’s stock.

About Renishaw

We are a world leader in measuring and manufacturing systems.

Our products give high accuracy and precision, gathering data to provide customers and end users with traceability and confidence in what they’re making. This technology also helps our customers to innovate their products and processes.

We are guided by our purpose: Transforming Tomorrow Together.