Chemring Group (LON:CHG) Reaches New 1-Year High - Here's Why

Key Points

• Chemring Group PLC reached a new 52-week high, trading at GBX 605 ($8.23), with over 2 million shares exchanged.
• Wall Street analysts maintain a consensus "Buy" rating for Chemring, with Berenberg Bank setting a target price of GBX 670.
• Insider Pete Raby purchased 6,000 shares at an average price of GBX 544, indicating confidence in the company by its management.

Shares of Chemring Group PLC (LON:CHG - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 605 ($8.15) and last traded at GBX 601 ($8.10), with a volume of 2035706 shares. The stock had previously closed at GBX 572 ($7.71).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 670 price objective on shares of Chemring Group in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of GBX 570.

Chemring Group Stock Performance

The company has a debt-to-equity ratio of 27.42, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a market cap of £1.52 billion, a P/E ratio of 3,575.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The firm's fifty day moving average price is GBX 547.09 and its 200 day moving average price is GBX 484.10.

Insider Activity at Chemring Group

In other news, insider Pete Raby acquired 6,000 shares of Chemring Group stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of GBX 544 per share, for a total transaction of £32,640. 1.17% of the stock is currently owned by company insiders.

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.