Jefferies Financial Group Reaffirms "Buy" Rating for Chemring Group (LON:CHG)

Key Points

• Jefferies Financial Group reaffirmed its “Buy” rating on Chemring Group and maintained a GBX 658 price target, implying 27.03% 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. Royal Bank of Canada recently raised its target to GBX 680.
• Chemring shares opened at GBX 518, with a market capitalization of approximately £1.40 billion and a 52-week range of GBX 446.52 to GBX 650.75. Two insiders recently sold shares, while insiders retain a 1.17% stake.

Chemring Group (LON:CHG - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Jefferies Financial Group in a report issued on Thursday, Digital Look reports. They currently have a GBX 658 price objective on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 27.03% from the company's previous close.

A number of other research analysts have also weighed in on CHG. Royal Bank Of Canada raised their price objective on Chemring Group from GBX 580 to GBX 680 and gave the company an "outperform" rating in a research report on Monday, August 10th. Berenberg Bank dropped their target price on Chemring Group from GBX 660 to GBX 650 and set a "buy" rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 650 target price on shares of Chemring Group in a research note on Friday, June 26th. Five analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of GBX 635.

Chemring Group Stock Performance

Shares of 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. The stock has a market cap of £1.40 billion, a P/E ratio of 42.11, a P/E/G ratio of 1.99 and a beta of 0.80. The business's 50 day moving average price is GBX 551.88 and its 200-day moving average price is GBX 539.08. Chemring Group has a 52 week low of GBX 446.52 and a 52 week high of GBX 650.75.

Insider Activity

In related news, insider Michael Ord sold 200,000 shares of Chemring Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of GBX 612, for a total value of £1,224,000. Also, insider Sarah Ellard sold 57,597 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of GBX 602, for a total value of £346,733.94. 1.17% of the stock is currently owned by company 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.

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