Separately, FinnCap downgraded Renold to a hold rating and reduced their target price for the company from GBX 65 ($0.87) to GBX 50 ($0.67) in a report on Thursday, October 12th.
Shares of Renold (LON RNO) traded down GBX 0.50 ($0.01) during midday trading on Tuesday, reaching GBX 49 ($0.66). 26,461 shares of the company’s stock were exchanged, compared to its average volume of 68,914. Renold has a 1 year low of GBX 41 ($0.55) and a 1 year high of GBX 65 ($0.87).
Renold plc is engaged in delivering engineered and power transmission products and solutions across the world. The Company’s Chain segment manufactures and sells power transmission and conveyor chain and includes sales of torque transmission product through Chain National Sales Companies (NSCs). It has manufacturing sites in the United States, Germany, India, China, Malaysia and Australia.
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