Chemring Group (LON:CHG) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Chemring Group's stock surpassed its 200-day moving average, trading at GBX 543 ($7.31) after reaching a high of GBX 543 during the session.
• Analysts from Berenberg Bank have reaffirmed a "buy" rating for Chemring shares, setting a price target of GBX 670, indicating expected growth.
• The company reported a return on equity of 0.88% with forecasted earnings per share of approximately 24.88 for the current fiscal year.

Chemring Group PLC (LON:CHG - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 459.80 ($6.21) and traded as high as GBX 543 ($7.33). Chemring Group shares last traded at GBX 543 ($7.33), with a volume of 441,204 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 670 target price on shares of Chemring Group in a research note on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of GBX 570.

Chemring Group Stock Performance

The firm has a market cap of £1.44 billion, a P/E ratio of 3,398.73, a PEG ratio of 1.99 and a beta of 0.68. The stock's 50 day moving average is GBX 548.36 and its two-hundred day moving average is GBX 466.31. The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71.

Chemring Group (LON:CHG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported GBX 7 earnings per share for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. As a group, equities analysts predict 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.