Bank of America cut shares of Rolls-Royce (OTCMKTS:RYCEY) from a neutral rating to an underperform rating in a report released on Tuesday morning.

Several other equities research analysts also recently issued reports on RYCEY. Zacks Investment Research upgraded shares of Rolls-Royce from a hold rating to a buy rating and set a $13.00 target price for the company in a research note on Wednesday, October 17th. JPMorgan Chase & Co. downgraded shares of Rolls-Royce from a neutral rating to a sell rating in a research note on Friday, August 10th. Finally, ValuEngine downgraded shares of Rolls-Royce from a buy rating to a hold rating in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $13.00.

Shares of OTCMKTS:RYCEY opened at $10.34 on Tuesday. Rolls-Royce has a 52-week low of $10.00 and a 52-week high of $14.55. The stock has a market capitalization of $20.41 billion, a P/E ratio of 19.85 and a beta of 1.00. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.19 and a quick ratio of 0.88.

A hedge fund recently raised its stake in Rolls-Royce stock. Fisher Asset Management LLC grew its stake in shares of Rolls-Royce Holding PLC (OTCMKTS:RYCEY) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,373 shares of the aerospace company’s stock after acquiring an additional 5,332 shares during the period. Fisher Asset Management LLC’s holdings in Rolls-Royce were worth $3,945,000 at the end of the most recent quarter. 0.13% of the stock is currently owned by institutional investors and hedge funds.

About Rolls-Royce

Rolls-Royce Holdings plc, an engineering company, develops, manufactures, markets, and sells power and propulsion systems in the United Kingdom and internationally. The company's Civil Aerospace segment provides aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as aftermarket services.

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