Chemring Group (LON:CHG) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Chemring Group PLC (LON:CHG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 526.78 and traded as high as GBX 529. Chemring Group shares last traded at GBX 526, with a volume of 964,607 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHG shares. Berenberg Bank upped their price objective on Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Panmure Gordon boosted their target price on Chemring Group from GBX 480 to GBX 537 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Jefferies Financial Group increased their price target on shares of Chemring Group from GBX 640 to GBX 660 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a GBX 600 price objective on shares of Chemring Group in a report on Monday, November 17th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chemring Group currently has a consensus rating of “Buy” and an average price target of GBX 616.75.

Chemring Group Price Performance

The firm has a market capitalization of £1.44 billion, a PE ratio of 30.51, a P/E/G ratio of 1.99 and a beta of 0.68. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42. The company has a fifty day moving average price of GBX 509.79 and a two-hundred day moving average price of GBX 526.79.

Chemring Group (LON:CHG) last released its quarterly earnings results on Tuesday, December 9th. The company reported GBX 19.70 earnings per share (EPS) for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. Sell-side analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Insider Buying and Selling at Chemring Group

In other Chemring Group news, insider Pete Raby bought 6,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average cost of GBX 468 per share, with a total value of £28,080. Also, insider James Mortensen sold 44,615 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of GBX 534, for a total transaction of £238,244.10. In the last three months, insiders have sold 297,888 shares of company stock valued at $145,648,723. 1.25% of the stock is currently owned by insiders.

Chemring Group Company Profile

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.