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Analysts at Westhouse Securities began coverage on shares of Chemring Group plc (LON:CHG) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating and a GBX 150 ($2.55) price target on the stock. Westhouse Securities’ price objective points to a potential downside of 28.49% from the stock’s previous close.

Chemring Group plc (LON:CHG) traded down 1.41% during mid-day trading on Thursday, hitting GBX 209.75. 676,918 shares of the company’s stock traded hands. Chemring Group plc has a 1-year low of GBX 186.30 and a 1-year high of GBX 323.20. The stock’s 50-day moving average is GBX 217.2 and its 200-day moving average is GBX 237.5. The company’s market cap is £405.4 million.

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. cut their price target on shares of Chemring Group plc from GBX 260 ($4.41) to GBX 245 ($4.16) in a research note on Thursday, June 12th. They now have a “neutral” rating on the stock. Separately, analysts at Investec reiterated a “buy” rating on shares of Chemring Group plc in a research note on Tuesday, June 10th. They now have a GBX 260 ($4.41) price target on the stock. Finally, analysts at Barclays downgraded shares of Chemring Group plc to an “underweight” rating in a research note on Monday, May 12th. They now have a GBX 200 ($3.40) price target on the stock. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Chemring Group plc currently has a consensus rating of “Hold” and a consensus price target of GBX 198.56 ($3.37).

Chemring Group PLC is a United Kingdom-based company engaged in the design, manufacture and sale of counter- improvised explosive device (LON:CHG) equipment, countermeasures, pyrotechnics and munitions.

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