Ricardo (RCDO) Upgraded by Peel Hunt to “Buy”

Peel Hunt upgraded shares of Ricardo (LON:RCDO) to a buy rating in a research note released on Wednesday morning. The brokerage currently has GBX 1,041 ($14.12) price objective on the stock, up from their previous price objective of GBX 855 ($11.59).

Separately, Liberum Capital increased their price target on shares of Ricardo from GBX 1,025 ($13.90) to GBX 1,080 ($14.65) and gave the company a buy rating in a research note on Friday, January 12th.

Ricardo (LON RCDO) traded up GBX 26 ($0.35) during trading on Wednesday, hitting GBX 1,020 ($13.83). 77,144 shares of the stock traded hands, compared to its average volume of 14,714. Ricardo has a twelve month low of GBX 691 ($9.37) and a twelve month high of GBX 1,015 ($13.76). The stock has a market cap of $542.07 and a PE ratio of 2,217.39.

In other news, insider Ian Gibson sold 15,509 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of GBX 819 ($11.11), for a total value of £127,018.71 ($172,252.12).

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About Ricardo

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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