Stock On Watch: Is Buying Renasant Corp. Here a Winning Strategy?

Stock On Watch: Is Buying Renasant Corp. Here a Winning Strategy?

The stock of Renasant Corp. (NASDAQ:RNST) reached all time high today, Nov, 24 and still has $42.76 target or 4.00% above today’s $41.12 share price. This indicates more upside for the $1.78B company. This technical setup was reported by Barchart.com. If the $42.76 PT is reached, the company will be worth $71.20M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.51% or $0.21 on November 23, hitting $41.12. About 180,174 shares traded hands or 0.67% up from the average. Renasant Corp. (NASDAQ:RNST) has risen 21.08% since April 22, 2016 and is uptrending. It has outperformed by 15.67% the S&P500.

Analysts await Renasant Corp. (NASDAQ:RNST) to report earnings on January, 17. They expect $0.56 earnings per share, up 1.82% or $0.01 from last year’s $0.55 per share. RNST’s profit will be $24.24M for 18.36 P/E if the $0.56 EPS becomes a reality. After $0.59 actual earnings per share reported by Renasant Corp. for the previous quarter, Wall Street now forecasts -5.08% negative EPS growth.

Renasant Corp. (NASDAQ:RNST) Ratings Coverage

Out of 4 analysts covering Renasant (NASDAQ:RNST), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Renasant has been the topic of 6 analyst reports since October 22, 2015 according to StockzIntelligence Inc. The firm has “Long-Term Buy” rating by Hilliard Lyons given on Thursday, January 21. The rating was downgraded by Raymond James on Monday, September 12 to “Outperform”. The stock has “Equal Weight” rating given by Stephens on Thursday, October 22. The stock of Renasant Corp. (NASDAQ:RNST) has “Buy” rating given on Thursday, April 28 by Hilliard Lyons.

According to Zacks Investment Research, “Renasant Corporation is the parent of Renasant Bank and Renasant Insurance, Inc.”

More important recent Renasant Corp. (NASDAQ:RNST) news were published by: Marketwatch.com which released: “Renasant downgraded to outperform from strong buy at Raymond James” on February 06, 2010, also Prnewswire.com published article titled: “Renasant Corporation Announces Pricing Of Subordinated Notes”, Prnewswire.com published: “Renasant Corporation and KeyWorth Bank Announce Definitive Merger Agreement” on October 20, 2015. More interesting news about Renasant Corp. (NASDAQ:RNST) was released by: Bizjournals.com and their article: “Renasant Corp. acquires Heritage Financial Group for $258 million” with publication date: December 11, 2014.

RNST Company Profile

Renasant Corporation, incorporated on November 10, 1982, is a bank holding firm that owns and operates Renasant Bank (the Bank), a Mississippi banking association with activities in Mississippi, Tennessee, Alabama and Georgia, and Renasant Insurance, Inc. (Renasant Insurance), which is a subsidiary of the Bank, with activities in Mississippi. The Firm operates through three divisions: Community Banks segment, Insurance segment and Wealth Management segment. The Community Banks segment offers a range of banking and financial services to individuals and small to medium-sized businesses. The Insurance segment includes an insurance agency offering all lines of commercial and personal insurance through major carriers. The Wealth Management segment offers a range of fiduciary services, which includes the administration and management of trust accounts, including personal and corporate benefit accounts, self-directed individual retirement accounts (IRAs), and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third-party broker-dealer.

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