QinetiQ Group (LON:QQ) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

QinetiQ Group plc (LON:QQ)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 476.79 and traded as high as GBX 496.80. QinetiQ Group shares last traded at GBX 496.80, with a volume of 1,160,751 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on QQ shares. Berenberg Bank increased their price objective on QinetiQ Group from GBX 580 to GBX 610 and gave the company a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 600 price target on shares of QinetiQ Group in a report on Wednesday, July 1st. Royal Bank Of Canada lifted their price objective on QinetiQ Group from GBX 490 to GBX 570 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 487 price objective on shares of QinetiQ Group in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,663.40.

QinetiQ Group Stock Down 1.1%

The business has a fifty day moving average of GBX 497.41 and a 200 day moving average of GBX 477.02. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 74.20. The firm has a market cap of £2.66 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.47 and a beta of 0.33.

Insider Activity

In other news, insider Steven L. Mogford purchased 9,092 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of GBX 546 per share, for a total transaction of £49,642.32. Also, insider Steve Wadey sold 103,945 shares of QinetiQ Group stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of GBX 487, for a total transaction of £506,212.15. Insiders have bought a total of 9,328 shares of company stock valued at $5,087,625 over the last 90 days. Corporate insiders own 12.14% of the company’s stock.

QinetiQ Group Company Profile

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.