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Ricardo ( (GB:RCDO) ) has provided an announcement.
Ricardo PLC, a company involved in engineering and environmental solutions, has announced the completion of its acquisition by WSP Group Limited, a subsidiary of WSP Global Inc. This acquisition was executed through a Court-sanctioned scheme of arrangement, following the necessary shareholder approvals. The transaction involves the vesting and subsequent sale of shares held by Ricardo’s directors and persons discharging managerial responsibilities (PDMRs) to WSP UK, marking a significant transition in ownership. The acquisition is expected to impact Ricardo’s operations and market positioning, as it integrates into WSP Global’s broader strategic framework.
The most recent analyst rating on (GB:RCDO) stock is a Hold with a £4.30 price target. To see the full list of analyst forecasts on Ricardo stock, see the GB:RCDO Stock Forecast page.
Spark’s Take on GB:RCDO Stock
According to Spark, TipRanks’ AI Analyst, GB:RCDO is a Neutral.
Ricardo’s overall stock score is primarily driven by its strong technical analysis performance and positive corporate events. While the company shows resilience with steady revenue growth and effective cash management, low profitability margins and a negative P/E ratio weigh down the financial performance and valuation scores. The strategic acquisition by WSP Group and managerial equity alignment offer potential for enhanced market positioning and operational capabilities.
To see Spark’s full report on GB:RCDO stock, click here.
More about Ricardo
Average Trading Volume: 443,664
Technical Sentiment Signal: Buy
Current Market Cap: £266.3M
For a thorough assessment of RCDO stock, go to TipRanks’ Stock Analysis page.