Hunting (LON:HTG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Hunting PLC (LON:HTG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 402.94 and traded as high as GBX 507. Hunting shares last traded at GBX 492.69, with a volume of 536,786 shares traded.

Wall Street Analyst Weigh In

HTG has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a research note on Thursday, March 5th. Berenberg Bank boosted their target price on Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada increased their price target on Hunting from GBX 440 to GBX 500 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 536.

Hunting Stock Performance

The stock has a market capitalization of £724.76 million, a PE ratio of -23.24, a PEG ratio of 1.06 and a beta of 0.74. The business’s 50 day moving average is GBX 484.71 and its 200 day moving average is GBX 402.94. The company has a current ratio of 2.97, a quick ratio of 2.08 and a debt-to-equity ratio of 13.38.

Hunting announced that its Board of Directors has initiated a stock buyback program on Thursday, March 5th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Hunting news, insider Bruce Ferguson sold 66,154 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of GBX 507, for a total transaction of £335,400.78. 3.40% of the stock is owned by company insiders.

Hunting Company Profile

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors.

Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry.

Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment.

Our people are our most important asset.