Chemring Group (LON:CHG) Given New GBX 680 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Chemring Group’s price target to GBX 680 from GBX 580 while maintaining an “outperform” rating, implying roughly 5.67% upside.
• Analyst sentiment remains positive: five analysts rate the stock a Buy, with a consensus rating of “Buy” and an average price target of GBX 637.
• Chemring shares rose 2.6% to GBX 643.50, near their one-year high, after the company reported quarterly EPS of GBX 6.20 and revenue of £237.3 million.

Chemring Group (LON:CHG - Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from GBX 580 to GBX 680 in a report released on Monday,London Stock Exchange reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 5.67% from the company's current price.

Other analysts have also issued reports about the company. Berenberg Bank increased their target price on Chemring Group from GBX 590 to GBX 660 and gave the stock a "buy" rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 658 price target on shares of Chemring Group in a research note on Friday, July 31st. Finally, 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. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of GBX 637.

Chemring Group Trading Up 2.6%

Shares of CHG stock opened at GBX 643.50 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32. The stock has a market cap of £1.74 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80. The stock has a 50 day simple moving average of GBX 544.12 and a 200 day simple moving average of GBX 529.41. Chemring Group has a 1 year low of GBX 446.52 and a 1 year high of GBX 644.50.

Chemring Group (LON:CHG - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 EPS for the quarter. The firm had revenue of £237.30 million for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%. On average, research analysts predict that Chemring Group will post 24.8815166 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chemring Group 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 Alpna Amar bought 10,000 shares of the stock in a transaction on Friday, June 26th. The shares were acquired at an average cost of GBX 474 per share, with a total value of £47,400. Insiders own 1.27% 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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