Renold (LON:RNO) Trading 36.6% Higher – Time to Buy?

Renold plc (LON:RNO) shares traded up 36.6% on Tuesday . The company traded as high as GBX 78.60 ($1.05) and last traded at GBX 74.60 ($1.00). 11,973,730 shares were traded during trading, an increase of 1,503% from the average session volume of 747,038 shares. The stock had previously closed at GBX 54.60 ($0.73).

Analysts Set New Price Targets

Separately, Shore Capital reaffirmed a “buy” rating on shares of Renold in a report on Tuesday.

Renold Stock Up 40.5%

The company has a market cap of £185.16 million, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 0.10 and a beta of 0.76. The company has a current ratio of 1.73, a quick ratio of 0.80 and a debt-to-equity ratio of 150.00. The firm’s fifty day moving average price is GBX 44.72 and its 200-day moving average price is GBX 46.77.

About Renold

Renold plc engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally. The company operates in two segments, Chain and Torque Transmission. It offers inverted tooth chain products; and transmission chain products, including general transmission, low maintenance, abrasion and corrosion resistant, and drive chain, as well as klik-top polymer block chain and standard attachment chain.