Hunting (LON:HTG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Hunting PLC (LON:HTG)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 452.11 and traded as high as GBX 469. Hunting shares last traded at GBX 466, with a volume of 287,272 shares.

Analyst Upgrades and Downgrades

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

Hunting Stock Up 1.1%

The company has a quick ratio of 2.08, a current ratio of 2.97 and a debt-to-equity ratio of 13.38. The company has a market capitalization of £689.39 million, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.06 and a beta of 0.71. The business’s 50 day simple moving average is GBX 490.42 and its 200 day simple moving average is GBX 452.11.

Hunting announced that its Board of Directors has approved a share buyback program on Thursday, March 5th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Hunting news, insider Bruce Ferguson acquired 6,568 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of GBX 509 per share, for a total transaction of £33,431.12. Insiders own 3.40% of the company’s stock.

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.