Chemring Group (LON:CHG) Earns Outperform Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reissued an Outperform rating with a GBX 600 target (implying ~7.2% upside); Jefferies raised its target to GBX 660 and four analysts rate the stock Buy with a consensus target of GBX 616.75.
• Chemring opened at GBX 559.50, implying a market cap of £1.50bn and a P/E of 31.97, and the stock's one-year range is GBX 375–614.
• Insider James Mortensen sold 44,615 shares at GBX 534 (≈£238,244), while insiders collectively own 1.17% of the company.

Chemring Group (LON:CHG - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday,Digital Look reports. They presently have a GBX 600 target price on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 7.24% from the stock's current price.

Separately, Jefferies Financial Group increased their price objective on shares of Chemring Group from GBX 640 to GBX 660 and gave the stock a "buy" rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemring Group currently has an average rating of "Buy" and a consensus price target of GBX 616.75.

Chemring Group Trading Down 0.2%

CHG opened at GBX 559.50 on Friday. The company has a debt-to-equity ratio of 40.39, a quick ratio of 0.71 and a current ratio of 1.60. The business's 50-day simple moving average is GBX 527.72 and its 200-day simple moving average is GBX 523.23. The company has a market cap of £1.50 billion, a P/E ratio of 31.97, a PEG ratio of 1.99 and a beta of 0.87. Chemring Group has a one year low of GBX 375 and a one year high of GBX 614.

Insiders Place Their Bets

In other news, insider James Mortensen sold 44,615 shares of the firm's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of GBX 534, for a total transaction of £238,244.10. Insiders own 1.17% of the company's stock.

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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