Insider Buying: Hunting (LON:HTG) Insider Acquires £63,000 in Stock

Hunting PLC (LON:HTG) insider Catherine Krajicek acquired 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of GBX 350 per share, for a total transaction of £63,000.

Hunting Trading Down 1.7%

Shares of Hunting stock opened at GBX 350.50 on Friday. Hunting PLC has a 12-month low of GBX 245 and a 12-month high of GBX 377.50. The company has a current ratio of 2.69, a quick ratio of 2.08 and a debt-to-equity ratio of 11.64. The stock has a market cap of £538.57 million, a PE ratio of -16.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07. The company has a 50-day moving average of GBX 335.06 and a two-hundred day moving average of GBX 303.18.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Hunting from GBX 350 to GBX 400 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 440 price target on shares of Hunting in a research report on Tuesday, September 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a research report on Thursday, October 23rd. Berenberg Bank lowered their price objective on shares of Hunting from GBX 465 to GBX 450 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Collins Stewart restated a “buy” rating and set a GBX 600 target price on shares of Hunting in a research report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 498.

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.