Chemring Group (LON:CHG) Shares Cross Below 200 Day Moving Average – Should You Sell?

Shares of Chemring Group PLC (LON:CHG) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 535.32 and traded as low as GBX 531.50. Chemring Group shares last traded at GBX 533, with a volume of 521,879 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CHG shares. Berenberg Bank lowered their target price on Chemring Group from GBX 660 to GBX 650 and set a “buy” rating for the company in a report on Thursday, October 15th. Royal Bank Of Canada raised their price target on Chemring Group from GBX 580 to GBX 680 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 658 price objective on shares of Chemring Group in a research report on Thursday, October 15th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 635.

Chemring Group Price Performance

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 business’s 50 day simple moving average is GBX 534.45 and its 200-day simple moving average is GBX 535.29. The stock has a market capitalization of £1.43 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 1.99 and a beta of 0.79.

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.