Hunting (LON:HTG) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Technical breakout: Hunting shares crossed above their 200-day moving average (200‑day MA GBX 395.43), trading as high as GBX 502 and last at GBX 471 on volume ~1.98M shares.
• Strong analyst sentiment: Multiple upgrades (RBC to GBX 500, Berenberg to GBX 580, Canaccord to GBX 600) leave a consensus Buy rating with an average price target of GBX 536.
• Shareholder returns and insider activity: The board approved a $40 million buyback (up to 5.3% of shares), while insider Bruce Ferguson sold 66,154 shares at GBX 507.

Hunting PLC (LON:HTG - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 395.43 and traded as high as GBX 502. Hunting shares last traded at GBX 471, with a volume of 1,983,564 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Hunting from GBX 440 to GBX 500 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. Berenberg Bank boosted their price objective on shares of Hunting from GBX 450 to GBX 580 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Canaccord Genuity Group restated a "buy" rating and set a GBX 600 target price on shares of Hunting in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of GBX 536.

Hunting Price Performance

The business's 50-day moving average price is GBX 474.94 and its 200 day moving average price is GBX 395.43. The company has a debt-to-equity ratio of 13.38, a quick ratio of 2.08 and a current ratio of 2.97. The stock has a market capitalization of £692.85 million, a PE ratio of -22.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74.

Hunting declared that its board has approved a stock repurchase program on Thursday, March 5th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Hunting

In related news, insider Bruce Ferguson sold 66,154 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of GBX 507, for a total transaction of £335,400.78. 3.40% of the stock is currently owned by insiders.

Hunting Company Profile

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.

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