Chemring Group (LON:CHG) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Chemring Group PLC (LON:CHG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 533.44 and traded as high as GBX 539. Chemring Group shares last traded at GBX 532, with a volume of 15,832,462 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CHG shares. Berenberg Bank upped their target price on shares of Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 600 price target on shares of Chemring Group in a report on Monday, November 17th. Panmure Gordon raised their price target on Chemring Group from GBX 480 to GBX 537 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, Jefferies Financial Group lifted their price objective on Chemring Group from GBX 530 to GBX 640 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chemring Group currently has a consensus rating of “Buy” and an average price target of GBX 611.75.

Chemring Group Stock Down 1.5%

The company’s 50 day simple moving average is GBX 493.04 and its 200-day simple moving average is GBX 533.44. The firm has a market cap of £1.41 billion, a P/E ratio of 29.94, a PEG ratio of 1.99 and a beta of 0.68. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42.

Chemring Group (LON:CHG) last posted its earnings results on Tuesday, December 9th. The company reported GBX 19.70 earnings per share for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. Research analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal year.

Insider Activity at Chemring Group

In related news, insider Pete Raby purchased 6,000 shares of Chemring Group stock in a transaction on Tuesday, December 9th. The shares were bought at an average cost of GBX 468 per share, for a total transaction of £28,080. Also, insider Michael Ord sold 100,249 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of GBX 481, for a total value of £482,197.69. In the last three months, insiders have sold 253,273 shares of company stock worth $121,824,313. 1.17% of the stock is currently owned by corporate insiders.

About Chemring Group

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.