Chemring Group (LON:CHG) Shares Pass Above 200-Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 518.22 and traded as high as GBX 540. Chemring Group shares last traded at GBX 538, with a volume of 514,679 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 650 price objective on shares of Chemring Group in a research report on Friday, June 26th. Royal Bank Of Canada cut their target price on Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a research note on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chemring Group has an average rating of “Buy” and an average price target of GBX 619.

Chemring Group Trading Up 0.1%

The company has a market cap of £1.46 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 1.99 and a beta of 0.80. The business has a fifty day simple moving average of GBX 510.49 and a 200 day simple moving average of GBX 518.22. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 51.32.

Chemring Group (LON:CHG) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. Chemring Group had a net margin of 6.77% and a return on equity of 9.03%. The business had revenue of £237.30 million for the quarter. On average, equities analysts anticipate that Chemring Group PLC will post 24.8815166 EPS for the current fiscal year.

Insider Activity

In related news, insider Tony Wood bought 42,000 shares of the stock in a transaction on Friday, June 26th. The shares were bought at an average cost of GBX 473 per share, for a total transaction of £198,660. Also, insider Alpna Amar bought 10,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was bought at an average cost of GBX 474 per share, with a total value of £47,400. 1.17% of the stock is owned by company 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.