Hunting (LON:HTG) Sets New 52-Week High – Here’s Why

Hunting PLC (LON:HTG)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 376 and last traded at GBX 370, with a volume of 479487 shares. The stock had previously closed at GBX 364.

Analysts Set New Price Targets

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

Hunting Stock Performance

The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. The firm has a market cap of £549.33 million, a price-to-earnings ratio of -16.86, a P/E/G ratio of 1.06 and a beta of 1.07. The firm has a fifty day simple moving average of GBX 341.36 and a two-hundred day simple moving average of GBX 310.51.

Hunting declared that its Board of Directors has initiated a share buyback plan on Thursday, August 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Hunting

In related news, insider Catherine Krajicek acquired 18,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of GBX 350 per share, with a total value of £63,000. Also, insider Margaret Amos bought 3,007 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was purchased at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Over the last ninety days, insiders purchased 23,129 shares of company stock worth $8,036,780. Company insiders own 3.22% of the company’s stock.

About Hunting

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.