Renold (LON:RNO) Stock Price Up 40.5% – Time to Buy?

Shares of Renold plc (LON:RNO) traded up 40.5% on Tuesday . The stock traded as high as GBX 78.60 ($1.05) and last traded at GBX 76.72 ($1.02). 8,440,536 shares changed hands during trading, an increase of 1,088% from the average session volume of 710,234 shares. The stock had previously closed at GBX 54.60 ($0.73).

Wall Street Analysts Forecast Growth

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

Renold Price Performance

The stock has a 50 day moving average price of GBX 44.72 and a 200-day moving average price of GBX 46.77. The stock has a market capitalization 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 debt-to-equity ratio of 150.00, a current ratio of 1.73 and a quick ratio of 0.80.

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.