Renold (LON:RNO) Shares Up 34.3% – Still a Buy?

Renold plc (LON:RNO) was up 34.3% during trading on Tuesday . The company traded as high as GBX 78.60 ($1.05) and last traded at GBX 73.35 ($0.98). Approximately 10,998,427 shares changed hands during trading, an increase of 1,393% from the average daily volume of 736,879 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 research note on Tuesday.

Renold Stock Performance

The firm’s fifty day moving average is GBX 46.17 and its 200 day moving average is GBX 47.15. The firm has a market capitalization of £177.45 million, a price-to-earnings ratio of 9.08, a PEG 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.