Renold (LON:RNO) Stock Price Up 35.5% – Should You Buy?

Renold plc (LON:RNO) shares shot up 35.5% during mid-day trading on Tuesday . The stock traded as high as GBX 78.60 ($1.05) and last traded at GBX 74 ($0.99). 10,738,978 shares changed hands during mid-day trading, an increase of 1,363% from the average session volume of 734,176 shares. The stock had previously closed at GBX 54.60 ($0.73).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a “buy” rating on shares of Renold in a research report on Wednesday, April 23rd.

Renold Trading Up 34.3%

The company has a quick ratio of 0.80, a current ratio of 1.73 and a debt-to-equity ratio of 150.00. The company has a market cap of £177.03 million, a P/E ratio of 9.06, a PEG ratio of 0.10 and a beta of 0.76. The business has a fifty day moving average price of GBX 44.72 and a 200-day moving average price of 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.