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

Shares of Chemring Group PLC (LON:CHG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 524.13 and traded as high as GBX 556. Chemring Group shares last traded at GBX 551.51, with a volume of 70,910,945 shares.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price objective on Chemring Group from GBX 640 to GBX 660 and gave the company a “buy” rating in a research report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 616.75.

Chemring Group Stock Performance

The company has a market cap of £1.48 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 1.99 and a beta of 0.87. The company’s fifty day moving average is GBX 519.45 and its 200 day moving average is GBX 524.13. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 40.39.

Insider Activity at Chemring Group

In other news, insider James Mortensen sold 44,615 shares of Chemring Group stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of GBX 534, for a total value of £238,244.10. Corporate insiders own 1.25% of the company’s stock.

Chemring Group Company Profile

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.