Berenberg Bank Reaffirms Buy Rating for Hunting (LON:HTG)

Key Points

• Berenberg Bank has reiterated a "buy" rating for Hunting (LON:HTG) and set a price target of GBX 465, indicating a potential upside of 42.20% from the previous close.
• Other analysts, including Collins Stewart and Canaccord Genuity, also maintain a "buy" rating with higher target prices of GBX 600.
• As of Thursday, Hunting's shares opened at GBX 327, with a market capitalization of £670.51 million and a P/E ratio of 5.45.

Berenberg Bank reaffirmed their buy rating on shares of Hunting (LON:HTG - Free Report) in a report published on Thursday, Marketbeat.com reports. Berenberg Bank currently has a GBX 465 price target on the stock.

Other analysts also recently issued reports about the company. Collins Stewart restated a "buy" rating and issued a GBX 600 price target on shares of Hunting in a research report on Thursday, August 28th. Canaccord Genuity Group restated a "buy" rating and issued a GBX 600 price target on shares of Hunting in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of GBX 526.25.

Hunting Trading Down 2.3%

HTG traded down GBX 7.75 during trading on Thursday, reaching GBX 326.25. The company had a trading volume of 455,487 shares, compared to its average volume of 582,640. The stock has a market cap of £514.65 million, a P/E ratio of -1,853.69, a PEG ratio of 1.06 and a beta of 1.07. The business has a 50 day simple moving average of GBX 310.30 and a 200-day simple moving average of GBX 288.28. Hunting has a 52 week low of GBX 245 and a 52 week high of GBX 454. The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64.

Hunting announced that its board has authorized a stock repurchase plan on Thursday, August 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

About Hunting

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors. Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry. Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment. Our people are our most important asset.