Renishaw (LON:RSW) Downgraded by Morgan Stanley to “Underweight”

Renishaw (LON:RSW) was downgraded by equities research analysts at Morgan Stanley to an “underweight” rating in a research report issued on Thursday, Price reports. They presently have a GBX 4,400 ($57.49) price target on the stock, down from their previous price target of GBX 5,800 ($75.78). Morgan Stanley’s target price points to a potential downside of 7.91% from the stock’s current price.

Several other equities analysts have also recently commented on RSW. Berenberg Bank reiterated a “buy” rating and set a GBX 6,600 ($86.23) target price on shares of Renishaw in a research note on Wednesday, November 17th. Barclays reissued an “underweight” rating and issued a GBX 4,695 ($61.34) price target on shares of Renishaw in a report on Monday, October 25th.

Shares of RSW traded down GBX 218 ($2.85) during mid-day trading on Thursday, hitting GBX 4,778 ($62.42). The company’s stock had a trading volume of 35,073 shares, compared to its average volume of 72,545. The stock’s 50-day moving average is GBX 5,040.24 and its two-hundred day moving average is GBX 5,221.45. The firm has a market capitalization of £3.48 billion and a PE ratio of 31.18. The company has a debt-to-equity ratio of 2.85, a quick ratio of 3.50 and a current ratio of 4.79. Renishaw has a one year low of GBX 4,316 ($56.39) and a one year high of GBX 7,025 ($91.78).

About Renishaw

Renishaw plc, an engineering and scientific technology company, designs, manufactures, distributes, sells, and services metrology and healthcare products worldwide. The company offers co-ordinate measuring machine (CMM) products, machine tool probe systems, styli for probe systems, performance measurement systems, gauging systems, fixtures, and position encoders; additive manufacturing systems; plastics vacuum casting machines; and mapping sensors.

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