Chemring Group (LON:CHG) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank raised Chemring Group’s price target from GBX 590 to GBX 660 and maintained a “buy” rating, implying approximately 9% upside from the prior close.
• Analyst sentiment remains positive: five analysts rate the stock “Buy,” with a consensus target price of GBX 617. Shares opened at GBX 605.50 and were trading near their 12-month high of GBX 620.
• Chemring reported quarterly earnings of GBX 6.20 per share on £237.3 million in revenue, while insiders recently purchased a combined 52,000 shares.

Chemring Group (LON:CHG - Get Free Report) had its price objective hoisted by stock analysts at Berenberg Bank from GBX 590 to GBX 660 in a report released on Monday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's target price indicates a potential upside of 9.00% from the stock's previous close.

Several other brokerages have also weighed in on CHG. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Royal Bank Of Canada dropped their target price on shares of Chemring Group from GBX 600 to GBX 580 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a GBX 658 price target on shares of Chemring Group in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Chemring Group presently has a consensus rating of "Buy" and a consensus target price of GBX 617.

Chemring Group Price Performance

Shares of CHG stock opened at GBX 605.50 on Monday. The stock has a 50-day moving average price of GBX 535.63 and a 200 day moving average price of GBX 526.73. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 51.32. The firm has a market cap of £1.64 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 1.99 and a beta of 0.80. Chemring Group has a 12 month low of GBX 446.52 and a 12 month high of GBX 620.

Chemring Group (LON:CHG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share 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%. Research analysts expect that Chemring Group will post 24.8815166 EPS for the current year.

Insider Transactions at Chemring Group

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

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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