Chemring Group (LON:CHG) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Chemring Group PLC (LON:CHG) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 526.73 and traded as low as GBX 518. Chemring Group shares last traded at GBX 536, with a volume of 22,538,395 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on CHG shares. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 600 target price on shares of Chemring Group in a research note on Monday, November 17th. Berenberg Bank upped their price target on Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Jefferies Financial Group increased their price objective on Chemring Group from GBX 640 to GBX 660 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Panmure Gordon raised their price objective on Chemring Group from GBX 480 to GBX 537 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemring Group has a consensus rating of “Buy” and an average target price of GBX 616.75.

Chemring Group Trading Up 0.8%

The company has a market cap of £1.44 billion, a P/E ratio of 30.63, a PEG ratio of 1.99 and a beta of 0.86. The stock’s 50 day moving average is GBX 517.53 and its 200-day moving average is GBX 526.73. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 40.39.

Chemring Group (LON:CHG) last released its quarterly earnings data on Tuesday, December 9th. The company reported GBX 19.70 earnings per share for the quarter. Chemring Group had a net margin of 9.69% and a return on equity of 13.12%. Research analysts anticipate that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal year.

Insider Activity at Chemring Group

In other Chemring Group news, insider Michael Ord sold 100,249 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of GBX 481, for a total transaction of £482,197.69. Also, insider Sarah Ellard sold 30,971 shares of Chemring Group stock in a transaction on Monday, December 15th. The stock was sold at an average price of GBX 481, for a total value of £148,970.51. Insiders sold 297,888 shares of company stock valued at $145,648,723 over the last 90 days. Corporate insiders own 1.25% of the company’s stock.

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.