Chemring Group (LON:CHG) Stock Price Down 7% – Here’s Why

Chemring Group PLC (LON:CHG) traded down 7% during mid-day trading on Tuesday . The company traded as low as GBX 510.50 and last traded at GBX 510.50. 1,198,376 shares changed hands during trading, a decline of 62% from the average session volume of 3,174,456 shares. The stock had previously closed at GBX 549.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reissued an “outperform” rating and set a GBX 600 target price on shares of Chemring Group in a research note on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chemring Group presently has a consensus rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Stock Down 7.0%

The company has a debt-to-equity ratio of 40.39, a current ratio of 1.60 and a quick ratio of 0.71. The firm’s 50 day moving average is GBX 519.96 and its two-hundred day moving average is GBX 511.28. The firm has a market capitalization of £1.38 billion, a P/E ratio of 29.17, a PEG ratio of 1.99 and a beta of 0.82.

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.