Royal Bank Of Canada Forecasts Strong Price Appreciation for Ralliant (NYSE:RAL) Stock

Ralliant (NYSE:RAL) had its target price increased by stock analysts at Royal Bank Of Canada from $72.00 to $73.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 8.44% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Oppenheimer upped their price target on Ralliant from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Truist Financial restated a “buy” rating and set a $88.00 price objective (up from $82.00) on shares of Ralliant in a research report on Thursday. Weiss Ratings lowered Ralliant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Citigroup lifted their price objective on Ralliant from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Finally, Seaport Research Partners upgraded Ralliant from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Ralliant presently has an average rating of “Moderate Buy” and an average price target of $78.40.

Ralliant Trading Up 7.1%

Shares of Ralliant stock traded up $4.49 during trading on Thursday, hitting $67.32. The company’s stock had a trading volume of 2,259,659 shares, compared to its average volume of 1,280,848. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.00. Ralliant has a 52 week low of $37.27 and a 52 week high of $75.41. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of -6.45, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42. The stock has a 50-day moving average price of $68.12 and a two-hundred day moving average price of $59.00.

Ralliant (NYSE:RAL) last announced its earnings results on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.16. The business had revenue of $620.10 million during the quarter. Ralliant had a positive return on equity of 14.97% and a negative net margin of 56.38%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. Equities research analysts anticipate that Ralliant will post 3.02 EPS for the current fiscal year.

Insider Transactions at Ralliant

In other news, SVP Karen Bick sold 6,062 shares of Ralliant stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $72.00, for a total value of $436,464.00. Following the completion of the transaction, the senior vice president directly owned 31,668 shares of the company’s stock, valued at approximately $2,280,096. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tamara Newcombe sold 12,936 shares of Ralliant stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $70.58, for a total value of $913,022.88. Following the completion of the transaction, the chief executive officer directly owned 246,897 shares of the company’s stock, valued at approximately $17,425,990.26. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 44,870 shares of company stock valued at $3,122,883. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Ralliant

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Ralliant in the second quarter worth approximately $1,039,481,000. Flossbach Von Storch SE bought a new position in shares of Ralliant during the 2nd quarter worth approximately $222,460,000. Irenic Capital Management LP boosted its holdings in shares of Ralliant by 424.1% during the 1st quarter. Irenic Capital Management LP now owns 1,740,218 shares of the company’s stock worth $72,376,000 after buying an additional 1,408,176 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ralliant by 60.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,314,834 shares of the company’s stock worth $54,669,000 after buying an additional 496,171 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Ralliant during the 2nd quarter worth approximately $50,707,000.

About Ralliant

Ralliant Corporation (NYSE: RAL) is an industrial technology company that develops and supplies highly engineered products and solutions for customers with demanding measurement, monitoring, sensing and reliability requirements. Its offerings are designed to support the performance, safety and efficiency of industrial equipment and processes.

The company’s portfolio includes test and measurement instruments, sensing and monitoring technologies, power and electrical solutions, and products used to improve the reliability and maintenance of industrial assets.