Hunting (LON:HTG) Earns Buy Rating from Canaccord Genuity Group

Hunting (LON:HTG)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report issued on Thursday, Marketbeat reports. They currently have a GBX 600 target price on the stock. Canaccord Genuity Group’s target price points to a potential upside of 70.70% from the company’s current price.

Other equities analysts also recently issued reports about the company. Collins Stewart restated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a research report on Thursday, August 28th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 440 price objective on shares of Hunting in a research report on Tuesday, September 2nd. Jefferies Financial Group boosted their price objective on Hunting from GBX 350 to GBX 400 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 465 price objective on shares of Hunting in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 498.

Hunting Price Performance

Shares of Hunting stock opened at GBX 351.50 on Thursday. The stock’s 50-day simple moving average is GBX 328.58 and its 200-day simple moving average is GBX 296.44. Hunting has a 52 week low of GBX 245 and a 52 week high of GBX 377.50. The company has a market capitalization of £546.04 million, a price-to-earnings ratio of -16.58, a PEG ratio of 1.06 and a beta of 1.07. The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64.

Hunting announced that its Board of Directors has initiated a stock buyback program on Thursday, August 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Hunting

In related news, insider Margaret Amos bought 3,007 shares of Hunting stock in a transaction dated Wednesday, September 24th. The shares were acquired at an average cost of GBX 332 per share, with a total value of £9,983.24. Company insiders own 3.19% 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.