Ricardo plc (RCDO) Lowered to “Sell” at Berenberg Bank

Ricardo plc (LON:RCDO) was downgraded by Berenberg Bank to a “sell” rating in a research report issued on Friday. They presently 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 target price indicates a potential downside of 15.05% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Peel Hunt reiterated an “add” rating and issued a GBX 1,019 ($13.74) target price on shares of Ricardo plc in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a GBX 1,043 ($14.06) price target on shares of Ricardo plc in a report on Sunday. Finally, Liberum Capital reissued a “buy” rating and issued a GBX 875 ($11.80) price target on shares of Ricardo plc in a report on Thursday.

Shares of Ricardo plc (LON:RCDO) traded down 2.56% during mid-day trading on Friday, hitting GBX 780.00. 33,709 shares of the stock were exchanged. Ricardo plc has a 12 month low of GBX 691.00 and a 12 month high of GBX 1,040.00. The stock’s 50 day moving average is GBX 735.69 and its 200-day moving average is GBX 821.45. The stock’s market cap is GBX 412.62 million.

Ricardo plc (LON:RCDO) last issued its earnings results on Thursday, September 14th. The company reported GBX 55.70 ($0.75) EPS for the quarter, beating the Zacks’ 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 return on equity of 13.51% and a net margin of 5.63%. On average, analysts anticipate that Ricardo plc will post $55.15 EPS for the current year.

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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.

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