Hunting (LON:HTG) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Hunting PLC (LON:HTG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 409.87 and traded as high as GBX 501. Hunting shares last traded at GBX 487, with a volume of 337,144 shares.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada raised their price objective on Hunting from GBX 440 to GBX 500 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Berenberg Bank lifted their price target on Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 600 price target on shares of Hunting in a research note on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 536.

Hunting Trading Up 0.1%

The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08. The business has a 50-day moving average of GBX 491.24 and a 200-day moving average of GBX 409.87. The firm has a market cap of £714.70 million, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.06 and a beta of 0.74.

Hunting announced that its board has initiated a share repurchase plan on Thursday, March 5th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Bruce Ferguson bought 6,568 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of GBX 509 per share, with a total value of £33,431.12. Corporate insiders own 3.40% of the company’s stock.

Hunting Company Profile

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors.

Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry.

Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment.

Our people are our most important asset.