Chemring Group (LON:CHG) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Chemring Group PLC (LON:CHG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 533.44 and traded as high as GBX 539. Chemring Group shares last traded at GBX 532, with a volume of 15,832,462 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHG. Panmure Gordon lifted their price target on Chemring Group from GBX 480 to GBX 537 and gave the company a “buy” rating in a report on Wednesday, November 19th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 600 target price on shares of Chemring Group in a research note on Monday, November 17th. Berenberg Bank increased their price objective on shares of Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group upped their price objective on Chemring Group from GBX 530 to GBX 640 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 611.75.

Chemring Group Stock Down 1.5%

The firm has a 50-day moving average of GBX 493.04 and a two-hundred day moving average of GBX 533.44. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 27.42. The company has a market capitalization of £1.41 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68.

Chemring Group (LON:CHG) last released its quarterly earnings results on Tuesday, December 9th. The company reported GBX 19.70 EPS for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. Equities research analysts predict that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal year.

Insider Buying and Selling at Chemring Group

In other Chemring Group news, insider Pete Raby bought 6,000 shares of Chemring Group stock in a transaction on Tuesday, December 9th. The shares were bought at an average cost of GBX 468 per share, for a total transaction of £28,080. Also, insider Sarah Ellard sold 30,971 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of GBX 481, for a total transaction of £148,970.51. Insiders have sold 253,273 shares of company stock valued at $121,824,313 in the last quarter. Corporate insiders own 1.17% of the company’s stock.

About Chemring Group

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.