Hunting (LON:HTG) Shares Cross Above 200-Day Moving Average – What’s Next?

Hunting PLC (LON:HTG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 447.57 and traded as high as GBX 503. Hunting shares last traded at GBX 475.03, with a volume of 411,141 shares traded.

Wall Street Analysts Forecast Growth

HTG has been the topic of several research reports. Berenberg Bank increased their price target on shares of Hunting from GBX 450 to GBX 580 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Jefferies Financial Group reissued a “hold” rating and set a GBX 400 price target on shares of Hunting in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a GBX 600 price target on shares of Hunting in a research report on Wednesday, April 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Hunting currently has an average rating of “Moderate Buy” and a consensus price target of GBX 536.

Hunting Price Performance

The company has a market capitalization of £695.28 million, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.71. The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08. The company’s 50 day simple moving average is GBX 491.89 and its 200 day simple moving average is GBX 447.57.

Hunting declared that its Board of Directors has approved a stock buyback plan on Thursday, March 5th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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