Chemring Group (LON:CHG) Share Price Passes Above 200-Day Moving Average - Here's Why

Shares of Chemring Group PLC (LON:CHG - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 526.47 and traded as high as GBX 598. Chemring Group shares last traded at GBX 586.50, with a volume of 34,186,055 shares.

Analyst Ratings Changes

CHG has been the topic of a number of research reports. Royal Bank Of Canada lowered their price objective on Chemring Group from GBX 600 to GBX 580 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 650 target price on shares of Chemring Group in a research report on Friday, June 26th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 658 target price on shares of Chemring Group in a research note on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of GBX 619.

Chemring Group Trading Up 0.5%

The stock has a market cap of £1.59 billion, a PE ratio of 47.93, a P/E/G ratio of 1.99 and a beta of 0.80. The firm has a 50-day simple moving average of GBX 534.32 and a 200-day simple moving average of GBX 526.47. 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 quarterly earnings results on Tuesday, June 2nd. The company reported GBX 6.20 EPS for the quarter. The firm had revenue of £237.30 million during the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%. Equities analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Insider Activity

In related news, insider Alpna Amar bought 10,000 shares of Chemring Group stock in a transaction on Friday, June 26th. The stock was acquired at an average price of GBX 474 per share, with a total value of £47,400. Also, insider Tony Wood purchased 42,000 shares of the firm's stock in a transaction dated Friday, June 26th. The shares were bought at an average price of GBX 473 per share, for a total transaction of £198,660. 1.17% of the stock is 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.

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