Chemring Group (LON:CHG) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Chemring Group PLC shares have crossed above their 200-day moving average of GBX 430.59 ($5.71), reaching a high of GBX 549 ($7.28) during trading.
• Berenberg Bank has reaffirmed a "buy" rating for Chemring Group and set a price target of GBX 670 ($8.88) in their latest report.
• The company has reported a net margin of 0.64% and is projected to achieve approximately 24.88 earnings per share for the current year.

Chemring Group PLC (LON:CHG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 430.59 ($5.72) and traded as high as GBX 549 ($7.29). Chemring Group shares last traded at GBX 543 ($7.21), with a volume of 499,758 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and issued a GBX 670 ($8.89) price target on shares of Chemring Group in a research note on Tuesday, July 15th.

Chemring Group Stock Performance

The stock has a 50 day moving average price of GBX 547.78 and a two-hundred day moving average price of GBX 434.39. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42. The company has a market cap of £1.44 billion, a price-to-earnings ratio of 657.49, a P/E/G ratio of 1.99 and a beta of 0.68.

Chemring Group (LON:CHG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported GBX 7 ($0.09) earnings per share for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. Analysts predict that Chemring Group PLC will post 24.8815166 EPS 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.