Chemring Group plc Price Target Cut to GBX 140 (CHG)
Investment analysts at Westhouse Securities reduced their price target on shares of Chemring Group plc (LON:CHG) from GBX 150 ($2.57) to GBX 140 ($2.40) in a note issued to investors on Tuesday. The firm currently has a “sell” rating on the stock. Westhouse Securities’ price objective points to a potential downside of 29.65% from the stock’s previous close.
Chemring Group plc (LON:CHG) traded down 2.57% on Tuesday, hitting GBX 199.00. 564,357 shares of the company’s stock traded hands. Chemring Group plc has a 52 week low of GBX 181.50 and a 52 week high of GBX 323.20. The stock has a 50-day moving average of GBX 211.7 and a 200-day moving average of GBX 237.0. The company’s market cap is £384.7 million.
The company also recently declared a dividend, which is scheduled for Friday, August 15th. Investors of record on Wednesday, July 23rd will be given a dividend of GBX 2.40 ($0.04) per share. This represents a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, July 23rd.
Other equities research analysts have also recently issued reports about the stock. Analysts at Investec cut their price target on shares of Chemring Group plc from GBX 233 ($4.00) to GBX 160 ($2.74) in a research note on Friday, June 27th. They now have a “sell” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “sell” rating on shares of Chemring Group plc in a research note on Tuesday, June 24th. They now have a GBX 160 ($2.74) price target on the stock, down previously from GBX 233 ($4.00). Six research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of GBX 178.22 ($3.06).
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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