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

Chemring Group PLC (LON:CHG)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 468.36 ($6.27) and traded as high as GBX 546 ($7.31). Chemring Group shares last traded at GBX 535 ($7.17), with a volume of 854,503 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 670 price target on shares of Chemring Group in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 570.

Chemring Group Stock 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’s 50-day moving average price is GBX 548 and its two-hundred day moving average price is GBX 468.36. The company has a market cap of £1.44 billion, a P/E ratio of 3,386.08, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68.

Chemring Group (LON:CHG) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported GBX 7 earnings per share for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. As a group, equities analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

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.