Hunting (LON:HTG) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Hunting PLC (LON:HTG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 402.94 and traded as high as GBX 507. Hunting shares last traded at GBX 492.69, with a volume of 536,786 shares traded.

Wall Street Analysts Forecast Growth

HTG has been the subject of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 600 price objective on shares of Hunting in a report on Thursday, March 5th. Berenberg Bank lifted their price objective on shares of Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada boosted their price objective on Hunting from GBX 440 to GBX 500 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 536.

Hunting Trading Down 2.0%

The stock has a market cap of £714.98 million, a PE ratio of -22.93, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74. The company has a debt-to-equity ratio of 13.38, a quick ratio of 2.08 and a current ratio of 2.97. The company has a 50 day moving average of GBX 487.12 and a two-hundred day moving average of GBX 404.68.

Hunting announced that its board has approved a share buyback plan on Thursday, March 5th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Hunting

In other news, insider Bruce Ferguson sold 66,154 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of GBX 507, for a total transaction of £335,400.78. 3.40% of the stock is currently owned by insiders.

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.