Chemring Group (LON:CHG) Shares Pass Above 200 Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 521.71 and traded as high as GBX 547. Chemring Group shares last traded at GBX 529, with a volume of 872,093 shares trading hands.

Wall Street Analysts Forecast Growth

CHG has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 600 price target on shares of Chemring Group in a report on Friday, April 17th. Jefferies Financial Group boosted their price target on Chemring Group from GBX 640 to GBX 660 and gave the stock a “buy” rating in a report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Stock Down 2.9%

The company has a fifty day moving average of GBX 532.72 and a two-hundred day moving average of GBX 521.71. The company has a market cap of £1.42 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 40.39, a quick ratio of 0.71 and a current ratio of 1.60.

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.