Chemring Group (LON:CHG) Shares Cross Above Two Hundred 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)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 459.80 ($6.19) and traded as high as GBX 543 ($7.31). Chemring Group shares last traded at GBX 543 ($7.31), with a volume of 441,204 shares trading hands.

Wall Street Analysts Forecast Growth

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

Chemring Group Trading Down 1.0%

The company has a fifty day simple moving average of GBX 550.62 and a 200-day simple moving average of GBX 459.80. 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 stock has a market cap of £1.44 billion, a price-to-earnings ratio of 658.49, a P/E/G ratio of 1.99 and a beta of 0.68.

Chemring Group (LON:CHG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported GBX 7 earnings per share for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. On average, research analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.