Hunting (LON:HTG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Hunting PLC (LON:HTG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 402.94 and traded as high as GBX 507. Hunting shares last traded at GBX 492.69, with a volume of 536,786 shares changing hands.

Wall Street Analyst Weigh In

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

Hunting Price Performance

The company has a debt-to-equity ratio of 13.38, a quick ratio of 2.08 and a current ratio of 2.97. The firm has a fifty day simple moving average of GBX 484.71 and a two-hundred day simple moving average of GBX 402.94. The firm has a market cap of £724.76 million, a PE ratio of -23.24, a PEG ratio of 1.06 and a beta of 0.74.

Hunting declared that its board has approved a stock buyback plan on Thursday, March 5th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Hunting

In other Hunting news, insider Bruce Ferguson bought 6,568 shares of Hunting stock in a transaction dated Friday, March 13th. The shares were purchased at an average cost of GBX 509 per share, for a total transaction of £33,431.12. 3.40% of the stock is currently owned by company insiders.

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.