Rolls-Royce (RYCEY) Rating Increased to Buy at Zacks Investment Research

Rolls-Royce (OTCMKTS:RYCEY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $13.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.09% from the company’s current price.

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. “

RYCEY has been the topic of several other reports. ValuEngine raised shares of Rolls-Royce from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. JPMorgan Chase & Co. downgraded shares of Rolls-Royce from a “neutral” rating to a “sell” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.00.

RYCEY opened at $11.40 on Wednesday. The firm has a market cap of $24.24 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 10.80 and a beta of 0.89. Rolls-Royce has a 52-week low of $11.01 and a 52-week high of $14.55.

A hedge fund recently bought a new stake in Rolls-Royce stock. Gillespie Robinson & Grimm Inc. acquired a new stake in shares of Rolls-Royce Holding PLC (OTCMKTS:RYCEY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,500 shares of the aerospace company’s stock, valued at approximately $259,000. 0.13% of the stock is owned by institutional investors and hedge funds.

About Rolls-Royce

Rolls-Royce Holdings plc, an engineering company, develops, manufactures, markets, and sells power and propulsion systems in the United Kingdom and internationally. The company's Civil Aerospace segment provides aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as aftermarket services.

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