Chemring Group (LON:CHG) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Chemring Group PLC (LON:CHG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 356.71 ($4.73) and traded as high as GBX 388.50 ($5.16). Chemring Group shares last traded at GBX 380 ($5.04), with a volume of 777,331 shares traded.

Analysts Set New Price Targets

Separately, Shore Capital restated a “buy” rating on shares of Chemring Group in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Chemring Group presently has an average rating of “Moderate Buy” and an average price target of GBX 429.50 ($5.70).

Chemring Group Price Performance

The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42. The company has a 50 day simple moving average of GBX 381.60 and a 200-day simple moving average of GBX 356.71. The stock has a market cap of £1.02 billion, a price-to-earnings ratio of 465.26, a P/E/G ratio of 1.99 and a beta of 0.68.

Chemring Group Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, March 20th were given a dividend of GBX 5.20 ($0.07) per share. The ex-dividend date was Thursday, March 20th. This is a boost from Chemring Group’s previous dividend of $2.60. This represents a yield of 1.44%. Chemring Group’s payout ratio is 857.06%.

Insiders Place Their Bets

In related news, insider Sarah Ellard sold 27,445 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of GBX 415 ($5.51), for a total value of £113,896.75 ($151,156.93). Insiders own 1.69% 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.