Chemring Group (LON:CHG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 521.65 and traded as high as GBX 586.50. Chemring Group shares last traded at GBX 580, with a volume of 1,048,151 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHG shares. Royal Bank Of Canada decreased their price target on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 658 price objective on shares of Chemring Group in a research report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemring Group currently has an average rating of “Buy” and an average target price of GBX 619.

Chemring Group Stock Performance

The firm has a 50-day moving average of GBX 517.58 and a 200-day moving average of GBX 521.65. The company has a debt-to-equity ratio of 51.32, a quick ratio of 0.70 and a current ratio of 1.38. The firm has a market capitalization of £1.57 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80.

Chemring Group (LON:CHG) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. The firm had revenue of £237.30 million during the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%. On average, equities research analysts anticipate that Chemring Group PLC will post 24.8815166 EPS for the current fiscal year.

Insider Transactions at Chemring Group

In other Chemring Group news, insider Alpna Amar bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average cost of GBX 474 per share, with a total value of £47,400. Also, insider Tony Wood bought 42,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average cost of GBX 473 per share, for a total transaction of £198,660. Corporate insiders own 1.17% 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.