Berenberg Bank Downgrades Ricardo plc (RCDO) to Sell
Ricardo plc (LON:RCDO) was downgraded by analysts at Berenberg Bank to a “sell” rating in a report issued on Friday. They currently have a GBX 680 ($9.17) price target on the stock, down from their previous price target of GBX 805 ($10.85). Berenberg Bank’s price objective would suggest a potential downside of 15.05% from the company’s previous close.
Several other research analysts have also commented on RCDO. Peel Hunt restated an “add” rating and set a GBX 1,019 ($13.74) price target on shares of Ricardo plc in a research note on Thursday, July 6th. Liberum Capital restated a “buy” rating and set a GBX 875 ($11.80) price target on shares of Ricardo plc in a research note on Thursday, July 6th. Finally, Jefferies Group LLC started coverage on shares of Ricardo plc in a research note on Monday, September 11th. They set a “buy” rating and a GBX 1,043 ($14.06) price target on the stock.
Ricardo plc (LON RCDO) traded down 2.56% during trading on Friday, hitting GBX 780.00. 33,709 shares of the company traded hands. The firm’s market cap is GBX 412.62 million. Ricardo plc has a one year low of GBX 691.00 and a one year high of GBX 1,040.00. The firm has a 50 day moving average of GBX 735.69 and a 200 day moving average of GBX 821.45.
Ricardo plc (LON:RCDO) last released its quarterly earnings data on Thursday, September 14th. The company reported GBX 55.70 ($0.75) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 55.20 ($0.74) by GBX 0.50 ($0.01). The firm had revenue of £352.10 million for the quarter. Ricardo plc had a net margin of 5.63% and a return on equity of 13.51%. On average, analysts expect that Ricardo plc will post $55.15 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Berenberg Bank Downgrades Ricardo plc (RCDO) to Sell” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/09/18/berenberg-bank-downgrades-ricardo-plc-rcdo-to-sell.html.
About Ricardo plc
Ricardo plc is a holding company engaged in engineering and strategic, technical and environmental consultancy business. The Company’s operating segments include Technical Consulting and Performance Products. Its Technical Consulting segment is engaged in the delivery of engineering programs and technology projects, together with environmental and management consultancy services.
Receive News & Stock Ratings for Ricardo plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ricardo plc and related stocks with our FREE daily email newsletter.