QinetiQ Group (LON:QQ) Stock Passes Above 200 Day Moving Average – Here’s Why

QinetiQ Group plc (LON:QQ)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 480.43 and traded as high as GBX 513.50. QinetiQ Group shares last traded at GBX 505, with a volume of 550,378 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of QinetiQ Group from GBX 585 to GBX 635 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Berenberg Bank restated a “buy” rating and set a GBX 550 price target on shares of QinetiQ Group in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, QinetiQ Group has an average rating of “Moderate Buy” and a consensus price target of GBX 578.33.

QinetiQ Group Stock Performance

The business’s 50 day moving average is GBX 503.82 and its 200-day moving average is GBX 480.59. The firm has a market capitalization of £2.80 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.47 and a beta of 0.27.

QinetiQ Group Company Profile

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.