Chemring Group (LON:CHG) Stock Price Down 7% – Here’s Why

Shares of Chemring Group PLC (LON:CHG) were down 7% during trading on Tuesday . The company traded as low as GBX 510.50 and last traded at GBX 510.50. Approximately 1,198,376 shares were traded during trading, a decline of 62% from the average daily volume of 3,174,456 shares. The stock had previously closed at GBX 549.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 price objective on shares of Chemring Group in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Chemring Group has a consensus rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Stock Down 7.0%

The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 40.39. The company has a market cap of £1.38 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.99 and a beta of 0.82. The stock has a fifty day moving average price of GBX 519.96 and a two-hundred day moving average price of GBX 511.28.

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.