Chemring Group (LON:CHG) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Chemring Group PLC (LON:CHG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 356.45 ($4.61) and traded as high as GBX 387 ($5.01). Chemring Group shares last traded at GBX 373.56 ($4.84), with a volume of 1,554,981 shares trading hands.

Wall Street Analyst Weigh In

CHG has been the subject of several recent analyst reports. Shore Capital restated a “buy” rating on shares of Chemring Group in a research note on Tuesday, February 25th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 470 ($6.08) target price on shares of Chemring Group in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 429.50 ($5.56).

Chemring Group Stock Down 3.3 %

The company has a debt-to-equity ratio of 27.42, a quick ratio of 0.71 and a current ratio of 1.22. The stock’s fifty day simple moving average is GBX 357.31 and its two-hundred day simple moving average is GBX 356.22. The stock has a market capitalization of £1.00 billion, a P/E ratio of 457.37, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68.

Chemring Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 20th will be issued a GBX 5.20 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Chemring Group’s previous dividend of $2.60. This represents a yield of 1.44%. Chemring Group’s dividend payout ratio is presently 857.06%.

Insider Transactions at Chemring Group

In related news, insider Sarah Ellard sold 27,445 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of GBX 415 ($5.37), for a total transaction of £113,896.75 ($147,420.08). Corporate insiders own 1.69% of the company’s stock.

Chemring Group Company Profile

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers’ complex needs.

Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today’s increasingly unstable world.

We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success.

Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.