Chemring Group (LON:CHG) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Chemring Group shares reached a new 52-week high, trading as high as GBX 644.50 after Royal Bank of Canada raised its price target from GBX 580 to GBX 680 and maintained an “outperform” rating.
• Analyst sentiment remains broadly positive: five analysts rate the stock a “Buy,” with a consensus target price of GBX 637.
• Insiders recently sold shares, including 200,000 shares sold by Michael Ord for £1.224 million and 57,597 shares sold by Sarah Ellard for about £346,734.

Chemring Group PLC (LON:CHG - Get Free Report) shares hit a new 52-week high during trading on Monday after Royal Bank Of Canada raised their price target on the stock from GBX 580 to GBX 680. Royal Bank Of Canada currently has an outperform rating on the stock. Chemring Group traded as high as GBX 644.50 and last traded at GBX 643.50, with a volume of 243430 shares traded. The stock had previously closed at GBX 627.

Several other analysts have also issued reports on CHG. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Jefferies Financial Group restated a "buy" rating and issued a GBX 658 target price on shares of Chemring Group in a research note on Friday, July 31st. Finally, Berenberg Bank upped their target price on Chemring Group from GBX 590 to GBX 660 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 637.

Insiders Place Their Bets

In related news, insider Michael Ord sold 200,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of GBX 612, for a total transaction of £1,224,000. Also, insider Sarah Ellard sold 57,597 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of GBX 602, for a total value of £346,733.94. Insiders own 1.27% of the company's stock.

Chemring Group Stock Up 2.6%

The company has a market capitalization of £1.74 billion, a price-to-earnings ratio of 52.32, a P/E/G ratio of 1.99 and a beta of 0.80. The business has a fifty day simple moving average of GBX 544.12 and a two-hundred day simple moving average of GBX 529.41. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 51.32.

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

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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