Hunting (LON:HTG) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Hunting PLC (LON:HTG)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 389.08 and traded as high as GBX 513. Hunting shares last traded at GBX 500.63, with a volume of 223,243 shares trading hands.

Analysts Set New Price Targets

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

Hunting Trading Down 1.8%

The firm’s 50 day moving average is GBX 463.53 and its 200 day moving average is GBX 389.08. 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 company has a market cap of £736.43 million, a PE ratio of -23.61, a PEG ratio of 1.06 and a beta of 0.74.

Hunting declared that its Board of Directors has approved a stock buyback plan on Thursday, March 5th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

About Hunting

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.