Chemring Group (LON:CHG) Stock Price Target Lowered at Berenberg Bank

Key Points

• Berenberg Bank lowered Chemring Group’s price target from GBX 660 to GBX 650 but maintained a “buy” rating, implying 25.48% upside from the previous close.
• Analyst sentiment remains positive: all five tracked analysts rate the stock a Buy, with an average price target of GBX 635. Recent targets from RBC, Deutsche Bank, and Jefferies range from GBX 650 to GBX 680.
• Chemring shares opened at GBX 518, compared with a 12-month range of GBX 446.52–650.75; insiders recently sold shares worth approximately £1.57 million in total.

Chemring Group (LON:CHG - Get Free Report) had its target price decreased by investment analysts at Berenberg Bank from GBX 660 to GBX 650 in a research note issued on Thursday, Digital Look reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's target price suggests a potential upside of 25.48% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada increased their price target on Chemring Group from GBX 580 to GBX 680 and gave the company an "outperform" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 650 price objective on shares of Chemring Group in a research report on Friday, June 26th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 658 price objective on shares of Chemring Group in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Chemring Group currently has an average rating of "Buy" and an average price target of GBX 635.

Chemring Group Stock Performance

CHG opened at GBX 518 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 51.32. Chemring Group has a 12-month low of GBX 446.52 and a 12-month high of GBX 650.75. The business has a 50 day moving average of GBX 551.88 and a 200-day moving average of GBX 539.08. The stock has a market cap of £1.40 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 1.99 and a beta of 0.80.

Insider Buying and Selling

In other news, insider Sarah Ellard sold 57,597 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of GBX 602, for a total value of £346,733.94. Also, insider Michael Ord sold 200,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of GBX 612, for a total value of £1,224,000. Insiders own 1.17% of the company's stock.

About Chemring Group

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.

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