Chemring Group (LON:CHG) Shares Pass Above 200-Day Moving Average – Should You Sell?

Chemring Group PLC (LON:CHG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 521.65 and traded as high as GBX 586.50. Chemring Group shares last traded at GBX 580, with a volume of 1,048,151 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CHG shares. Royal Bank Of Canada reduced their price target on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 619.

Chemring Group Stock Performance

The company has a debt-to-equity ratio of 51.32, a quick ratio of 0.70 and a current ratio of 1.38. The stock has a market capitalization of £1.57 billion, a P/E ratio of 47.15, a PEG ratio of 1.99 and a beta of 0.80. The business has a 50-day moving average price of GBX 517.58 and a 200 day moving average price of GBX 521.65.

Chemring Group (LON:CHG) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%.The company had revenue of £237.30 million during the quarter. As a group, sell-side analysts forecast that Chemring Group PLC will post 24.8815166 EPS for the current fiscal year.

Insider Transactions at Chemring Group

In other news, insider Tony Wood purchased 42,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of GBX 473 per share, for a total transaction of £198,660. Also, insider Alpna Amar acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of GBX 474 per share, for a total transaction of £47,400. Insiders own 1.17% of the company’s stock.

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.