Hunting (LON:HTG) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Shares of Hunting PLC have moved above their 200-day moving average, indicating a potentially positive momentum in the stock.
• Brokerages have given Hunting a consensus "Buy" rating, with target prices ranging from GBX 465 to GBX 600, suggesting strong growth potential.
• The company's stock has a market capitalization of approximately £643.85 million and a P/E ratio of 5.23, reflecting its valuation in the market.

Hunting PLC (LON:HTG - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 289.31 ($3.91) and traded as high as GBX 316 ($4.27). Hunting shares last traded at GBX 314 ($4.24), with a volume of 261,643 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HTG. Canaccord Genuity Group restated a "buy" rating and issued a GBX 600 target price on shares of Hunting in a report on Wednesday, July 9th. Berenberg Bank restated a "buy" rating and issued a GBX 465 target price on shares of Hunting in a report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of GBX 555.

Hunting Stock Up 2.8%

The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. The firm has a market cap of £680.76 million, a PE ratio of 5.53, a P/E/G ratio of 1.06 and a beta of 1.07. The business has a fifty day moving average price of GBX 306.62 and a two-hundred day moving average price of GBX 288.97.

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.