Hunting (LON:HTG) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Hunting PLC (LON:HTG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 452.11 and traded as high as GBX 469. Hunting shares last traded at GBX 466, with a volume of 287,272 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HTG. Berenberg Bank increased their target price on shares of Hunting from GBX 450 to GBX 580 and gave the stock a “buy” rating in a report on Thursday, March 5th. Canaccord Genuity Group restated a “buy” rating and set a GBX 600 target price on shares of Hunting in a report on Wednesday, April 15th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 400 target price on shares of Hunting in a report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 536.

Hunting Price Performance

The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08. The company has a market capitalization of £691.59 million, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.06 and a beta of 0.71. The company’s 50-day moving average price is GBX 490.23 and its two-hundred day moving average price is GBX 452.26.

Hunting announced that its board has initiated 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 buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Hunting

In other Hunting news, insider Bruce Ferguson acquired 6,568 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of GBX 509 per share, with a total value of £33,431.12. 3.40% of the stock is owned by corporate insiders.

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.