Hunting plc (LON:HTG)’s stock price reached a new 52-week low during trading on Tuesday after Credit Suisse Group downgraded the stock to a neutral rating. Credit Suisse Group now has a GBX 430 price target on the stock, down from their previous price target of GBX 530. Hunting traded as low as GBX 366.20 ($4.82) and last traded at GBX 373.60 ($4.91), with a volume of 175067 shares trading hands. The stock had previously closed at GBX 389.60 ($5.12).
Other equities research analysts have also issued research reports about the stock. Berenberg Bank decreased their price objective on shares of Hunting from GBX 630 ($8.29) to GBX 480 ($6.31) and set a “hold” rating for the company in a research note on Thursday, October 31st. UBS Group reiterated a “buy” rating and issued a GBX 590 ($7.76) price objective (down previously from GBX 650 ($8.55)) on shares of Hunting in a research note on Wednesday, October 30th. Canaccord Genuity decreased their price objective on shares of Hunting from GBX 650 ($8.55) to GBX 475 ($6.25) and set a “buy” rating for the company in a research note on Thursday, November 14th. Goldman Sachs Group lowered shares of Hunting to a “sell” rating and decreased their price objective for the company from GBX 602 ($7.92) to GBX 385 ($5.06) in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 650 ($8.55) price objective on shares of Hunting in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Hunting has an average rating of “Hold” and a consensus price target of GBX 568.91 ($7.48).
In related news, insider Keith Lough purchased 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of GBX 488 ($6.42) per share, for a total transaction of £19,520 ($25,677.45).
About Hunting (LON:HTG)
Hunting PLC, together with its subsidiaries, manufactures and distributes tools and equipment for the upstream energy industry worldwide. The company offers perforating guns and accessories; and connections, oil country tubular goods, drilling tools, subsea equipment, intervention tools, and electronics.
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