Chemring Group (LON:CHG) Reaches New 52-Week High After Analyst Upgrade

Key Points

• Chemring Group shares reached a new 52-week high, trading as high as GBX 621.50 after Berenberg raised its price target from GBX 590 to GBX 660 and maintained a “buy” rating.
• Analyst sentiment remains positive: five analysts rate the stock “Buy,” with a consensus rating of “Buy” and an average target price of GBX 617. Jefferies and Deutsche Bank also issued bullish ratings, while RBC retained an “outperform” rating.
• Insider activity was mixed, with Sarah Ellard selling shares worth about £346,734 and Alpna Amar purchasing £47,400 of stock. Chemring recently reported quarterly EPS of GBX 6.20 on revenue of £237.3 million.

Chemring Group PLC (LON:CHG - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after Berenberg Bank raised their price target on the stock from GBX 590 to GBX 660. Berenberg Bank currently has a buy rating on the stock. Chemring Group traded as high as GBX 621.50 and last traded at GBX 620.50, with a volume of 1838625 shares. The stock had previously closed at GBX 604.50.

A number of other research firms also recently weighed in on CHG. Jefferies Financial Group restated a "buy" rating and issued a GBX 658 price target on shares of Chemring Group in a research note on Friday. Royal Bank Of Canada dropped their target price on shares of Chemring Group from GBX 600 to GBX 580 and set an "outperform" rating on the stock in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 650 target price on shares of Chemring Group in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 617.

Insider Activity

In other news, insider Sarah Ellard sold 57,597 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of GBX 602, for a total transaction of £346,733.94. Also, insider Alpna Amar purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of GBX 474 per share, with a total value of £47,400. 1.17% of the stock is owned by company insiders.

Chemring Group Trading Up 2.1%

The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70. The company has a market capitalization of £1.67 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 1.99 and a beta of 0.80. The business's 50-day moving average price is GBX 537.19 and its two-hundred day moving average price is GBX 527.12.

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

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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