Ricardo plc’s (RCDO) Add Rating Reaffirmed at Peel Hunt

Peel Hunt reissued their add rating on shares of Ricardo plc (LON:RCDO) in a report issued on Wednesday morning. Peel Hunt currently has a GBX 855 ($11.25) price objective on the stock.

A number of other research firms have also recently weighed in on RCDO. Liberum Capital raised their price target on shares of Ricardo plc from GBX 940 ($12.36) to GBX 1,025 ($13.48) and gave the company a buy rating in a report on Wednesday, November 1st. Jefferies Group LLC restated a buy rating and issued a GBX 1,043 ($13.72) price target on shares of Ricardo plc in a report on Sunday, September 17th. Finally, Berenberg Bank cut shares of Ricardo plc to a sell rating and lowered their price target for the company from GBX 805 ($10.59) to GBX 680 ($8.94) in a report on Friday, September 15th.

Ricardo plc (LON RCDO) traded up GBX 10 ($0.13) during trading hours on Wednesday, hitting GBX 870 ($11.44). 11,107 shares of the stock were exchanged, compared to its average volume of 31,170. Ricardo plc has a twelve month low of GBX 691 ($9.09) and a twelve month high of GBX 1,000 ($13.15).

Ricardo plc (LON:RCDO) last released its quarterly earnings results on Thursday, September 14th. The company reported GBX 55.70 ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of GBX 55.20 ($0.73) by GBX 0.50 ($0.01). Ricardo plc had a net margin of 8.32% and a return on equity of 20.93%. The business had revenue of £352.10 million for the quarter.

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The business also recently announced a dividend, which will be paid on Friday, November 17th. Investors of record on Thursday, October 26th will be paid a GBX 13.88 ($0.18) dividend. The ex-dividend date is Thursday, October 26th. This is a boost from Ricardo plc’s previous dividend of $5.42. This represents a yield of 1.73%.

In related news, insider Ian Gibson sold 15,509 shares of Ricardo plc stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of GBX 819 ($10.77), for a total value of £127,018.71 ($167,063.94).

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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