Renishaw (LON:RSW) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Renishaw plc (LON:RSW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,436.65 and traded as high as GBX 3,750. Renishaw shares last traded at GBX 3,730, with a volume of 36,961 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RSW. Shore Capital Group reiterated a “hold” rating on shares of Renishaw in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Renishaw from GBX 3,340 to GBX 3,940 and gave the stock a “hold” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 3,920.

Renishaw Trading Up 2.3%

The company has a market cap of £2.71 billion, a price-to-earnings ratio of 32.34, a P/E/G 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. The firm’s fifty day moving average price is GBX 3,610.47 and its 200-day moving average price is GBX 3,436.65.

Insider Buying and Selling at Renishaw

In other news, insider D John Deer sold 342,950 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of GBX 3,435, for a total value of £11,780,332.50. Also, insider Richard McMurtry sold 26,376,468 shares of Renishaw stock in a transaction dated 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 26,926,468 shares of company stock worth $92,492,417,580 in the last quarter. Insiders own 52.95% of the company’s stock.

Renishaw Company Profile

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. This means working with our customers to make the products and the materials that are going to be needed for the future.

We believe that our purpose is incredibly relevant in today’s environment where the pace of change in technology is faster than ever.