Zacks Investment Research Downgrades Rolls-Royce Holdings PLC (RYCEY) to Hold
Rolls-Royce Holdings PLC (OTCMKTS:RYCEY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “ROLLS ROYCE, a world-leading provider of power systems and services for use on land, at sea and in the air, operates in four global markets – civil aerospace, defence aerospace, marine and energy. It continues to invest in core technologies, products, people and capabilities with the objective of broadening and strengthening the product portfolio, improving efficiency and enhancing the environmental performance of its products. These investments create high barriers to entry. “
Other analysts have also recently issued reports about the company. Morgan Stanley raised Rolls-Royce Holdings PLC from an “underweight” rating to an “equal weight” rating in a report on Wednesday, August 10th. Liberum Capital reissued a “hold” rating on shares of Rolls-Royce Holdings PLC in a report on Thursday, July 28th. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Rolls-Royce Holdings PLC in a report on Tuesday, August 16th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Rolls-Royce Holdings PLC has a consensus rating of “Hold” and an average target price of $275.00.
Shares of Rolls-Royce Holdings PLC (OTCMKTS:RYCEY) opened at 9.31 on Friday. The stock has a 50 day moving average of $9.64 and a 200-day moving average of $9.61. The stock’s market capitalization is $17.18 billion. Rolls-Royce Holdings PLC has a 52-week low of $7.33 and a 52-week high of $11.24.
An institutional investor recently bought a new position in Rolls-Royce Holdings PLC stock. Cascade Investment Advisors Inc. acquired a new stake in shares of Rolls-Royce Holdings PLC (OTCMKTS:RYCEY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,175 shares of the company’s stock, valued at approximately $156,000. Institutional investors own 0.14% of the company’s stock.
About Rolls-Royce Holdings PLC
Rolls-Royce Holdings plc is a provider of an integrated power and propulsion solutions. The Company operates through two divisions: Aerospace, which includes civil and defense businesses, and Land & Sea, which includes power systems, marine and nuclear businesses. Its civil aerospace business is engaged in the development, manufacture, marketing and sales of commercial aero engines and aftermarket services.
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