Ralliant (NYSE:RAL) Earns “Buy” Rating from Truist Financial

Ralliant (NYSE:RAL)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $88.00 price target on the stock, up from their prior price target of $82.00. Truist Financial‘s price objective indicates a potential upside of 30.73% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Ralliant from $73.00 to $72.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 14th. Evercore restated an “outperform” rating on shares of Ralliant in a research note on Tuesday, September 22nd. Seaport Research Partners raised Ralliant from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Wednesday, October 14th. Citigroup lifted their target price on Ralliant from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded Ralliant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.40.

Ralliant Stock Performance

NYSE RAL traded up $4.49 on Thursday, hitting $67.32. 2,259,659 shares of the stock were exchanged, compared to its average volume of 1,280,848. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.00. The business’s fifty day moving average is $68.12 and its 200 day moving average is $59.00. Ralliant has a 52 week low of $37.27 and a 52 week high of $75.41. The company has a market capitalization of $7.45 billion, a PE ratio of -6.45, a P/E/G ratio of 2.45 and a beta of 1.42.

Ralliant (NYSE:RAL) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.16. The company had revenue of $620.10 million during the quarter. Ralliant had a negative net margin of 56.38% and a positive return on equity of 14.97%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Research analysts anticipate that Ralliant will post 3.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tamara Newcombe sold 12,936 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $70.58, for a total transaction of $913,022.88. Following the completion of the sale, the chief executive officer owned 246,897 shares in the company, valued at $17,425,990.26. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karen Bick sold 6,062 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $72.00, for a total value of $436,464.00. Following the completion of the transaction, the senior vice president directly owned 31,668 shares in the company, valued at $2,280,096. The trade was a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 44,870 shares of company stock valued at $3,122,883. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Ralliant

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Ralliant during the second quarter worth $1,039,481,000. Legal & General Group Plc bought a new stake in shares of Ralliant in the second quarter valued at about $18,349,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ralliant in the second quarter valued at about $2,474,000. Irenic Capital Management LP grew its stake in shares of Ralliant by 424.1% in the first quarter. Irenic Capital Management LP now owns 1,740,218 shares of the company’s stock valued at $72,376,000 after acquiring an additional 1,408,176 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Ralliant in the second quarter valued at about $1,238,000.

About Ralliant

Ralliant Corporation (NYSE: RAL) is an industrial technology company that develops and supplies highly engineered products and solutions for customers with demanding measurement, monitoring, sensing and reliability requirements. Its offerings are designed to support the performance, safety and efficiency of industrial equipment and processes.

The company’s portfolio includes test and measurement instruments, sensing and monitoring technologies, power and electrical solutions, and products used to improve the reliability and maintenance of industrial assets.