Recent exceptional positive changes in investment behavior have benefitted Renasant Corp (NYSE: RNST): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Renasant Corp (NYSE: RNST) has benefited from small positive changes in fundamentals: significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
RNST is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Renasant has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Renasant has a neutral Power Rating of 53 but a good Appreciation Score of 81, triggering the Positive Value Trend Rating.
Recent Price Action
Renasant Corp (NYSE: RNST) stock closed at $30.54 on 6/28/24 after a large increase of 2.4%. Moreover, trading volume in this advance was exceptionally high at 298% of normal. The stock has risen 6.3% during the last week and has performed in line with the market over the last nine months.
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