Chemring Group (LON:CHG) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Chemring Group shares rose above their 200-day moving average, reaching GBX 632.50 before closing at GBX 618.50, compared with a 200-day average of GBX 533.80.
• Analysts remain broadly bullish: all five covering analysts rate the stock “Buy,” with a consensus price target of GBX 637 and recent targets ranging from GBX 650 to GBX 680.
• The company reported quarterly revenue of £237.30 million and earnings per share of GBX 6.20. Recent insider activity included a sale of 57,597 shares by Sarah Ellard and a purchase of 42,000 shares by Tony Wood.

Chemring Group PLC (LON:CHG - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 533.80 and traded as high as GBX 632.50. Chemring Group shares last traded at GBX 618.50, with a volume of 588,290 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHG shares. Berenberg Bank upped their price target on shares of Chemring Group from GBX 590 to GBX 660 and gave the stock a "buy" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Royal Bank Of Canada boosted their price objective on shares of Chemring Group from GBX 580 to GBX 680 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Jefferies Financial Group restated a "buy" rating and issued a GBX 658 target price on shares of Chemring Group in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of GBX 637.

Chemring Group Price Performance

The company has a debt-to-equity ratio of 51.32, a quick ratio of 0.70 and a current ratio of 1.38. The firm has a fifty day simple moving average of GBX 559.16 and a 200 day simple moving average of GBX 533.80. The company has a market capitalization of £1.67 billion, a PE ratio of 50.28, a P/E/G ratio of 1.99 and a beta of 0.80.

Chemring Group (LON:CHG - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%.The business had revenue of £237.30 million during the quarter. Equities analysts anticipate that Chemring Group PLC will post 24.8815166 EPS for the current year.

Insider Transactions at Chemring Group

In related news, insider Sarah Ellard sold 57,597 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of GBX 602, for a total value of £346,733.94. Also, insider Tony Wood acquired 42,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average cost of GBX 473 per share, with a total value of £198,660. 1.27% of the stock is owned by corporate insiders.

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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