Chemring Group (LON:CHG) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Chemring Group PLC (LON:CHG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 526.47 and traded as high as GBX 598. Chemring Group shares last traded at GBX 586.50, with a volume of 34,186,055 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 650 price target on shares of Chemring Group in a report on Friday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 658 price target on shares of Chemring Group in a report on Thursday, June 25th. Finally, Royal Bank Of Canada lowered their price objective on Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemring Group presently has an average rating of “Buy” and a consensus target price of GBX 619.

Chemring Group Trading Up 0.5%

The company has a debt-to-equity ratio of 51.32, a quick ratio of 0.70 and a current ratio of 1.38. The stock has a market cap of £1.59 billion, a P/E ratio of 47.93, a P/E/G ratio of 1.99 and a beta of 0.80. The stock has a 50-day moving average price of GBX 534.32 and a 200-day moving average price of GBX 526.47.

Chemring Group (LON:CHG) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. The company had revenue of £237.30 million for the quarter. Chemring Group had a net margin of 6.77% and a return on equity of 9.03%. On average, equities research analysts expect that Chemring Group PLC will post 24.8815166 EPS for the current year.

Insider Activity at Chemring Group

In related news, insider Tony Wood purchased 42,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was acquired at an average price of GBX 473 per share, with a total value of £198,660. Also, insider Alpna Amar purchased 10,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was bought at an average cost of GBX 474 per share, with a total value of £47,400. Insiders own 1.17% 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.