Chemring Group (LON:CHG) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Chemring Group PLC (LON:CHG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 527.78 and traded as high as GBX 539. Chemring Group shares last traded at GBX 524, with a volume of 943,267 shares.

Wall Street Analyst Weigh In

CHG has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 target price on shares of Chemring Group in a report on Monday, November 17th. Jefferies Financial Group upped their price target on shares of Chemring Group from GBX 640 to GBX 660 and gave the company a “buy” rating in a research report on Monday, January 26th. Panmure Gordon lifted their price objective on Chemring Group from GBX 480 to GBX 537 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, Berenberg Bank boosted their target price on Chemring Group from GBX 630 to GBX 670 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Stock Performance

The business’s fifty day simple moving average is GBX 502.91 and its 200-day simple moving average is GBX 527.78. The firm has a market cap of £1.39 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42.

Chemring Group (LON:CHG) last issued its quarterly earnings data on Tuesday, December 9th. The company reported GBX 19.70 EPS for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. As a group, sell-side analysts expect that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Insiders Place Their Bets

In other Chemring Group news, insider Pete Raby bought 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was bought at an average price of GBX 468 per share, for a total transaction of £28,080. Also, insider James Mortensen sold 44,615 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of GBX 534, for a total transaction of £238,244.10. Insiders have sold a total of 297,888 shares of company stock valued at $145,648,723 in the last 90 days. 1.25% of the stock is owned by corporate insiders.

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.