Chemring Group (LON:CHG) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Chemring Group PLC (LON:CHG)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 527.78 and traded as high as GBX 539. Chemring Group shares last traded at GBX 524, with a volume of 943,267 shares traded.

Analysts Set New Price Targets

CHG has been the topic of a number of recent research reports. Panmure Gordon upped their price objective on shares of Chemring Group from GBX 480 to GBX 537 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Jefferies Financial Group boosted their price target on Chemring Group from GBX 640 to GBX 660 and gave the stock a “buy” rating in a research report on Monday, January 26th. Berenberg Bank raised their price objective on Chemring Group from GBX 630 to GBX 670 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 price objective on shares of Chemring Group in a research note on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 616.75.

Chemring Group Trading Down 1.5%

The firm’s 50 day moving average price is GBX 502.91 and its 200-day moving average price is GBX 527.78. The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The stock has a market cap of £1.39 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.99 and a beta of 0.68.

Chemring Group (LON:CHG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported GBX 19.70 earnings per share for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. As a group, equities research analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael Ord sold 100,249 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of GBX 481, for a total transaction of £482,197.69. Also, insider Pete Raby acquired 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were acquired at an average cost of GBX 468 per share, for a total transaction of £28,080. Insiders have sold 297,888 shares of company stock worth $145,648,723 over the last three months. Company insiders own 1.25% of the company’s stock.

About Chemring Group

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.