Hunting (LON:HTG) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Hunting PLC has crossed above its two hundred day moving average, trading at GBX 327.50 ($4.46) with a significant volume of 13,920,108 shares.
• Analysts maintain a positive outlook with multiple "buy" ratings, setting a consensus price target of GBX 526.25, indicating potential for further growth.
• The company has initiated a stock buyback program worth $40 million, reflecting confidence from the Board that shares are currently undervalued.

Shares of Hunting PLC (LON:HTG - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 289.75 ($3.90) and traded as high as GBX 331 ($4.46). Hunting shares last traded at GBX 327.50 ($4.41), with a volume of 13,920,108 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 440 price objective on shares of Hunting in a research note on Tuesday, September 2nd. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 600 price target on shares of Hunting in a report on Wednesday, July 9th. Berenberg Bank restated a "buy" rating and issued a GBX 465 price target on shares of Hunting in a report on Thursday, August 28th. Finally, Collins Stewart restated a "buy" rating and issued a GBX 600 price target on shares of Hunting in a report on Thursday, August 28th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of GBX 526.25.

Hunting Stock Down 1.8%

The firm has a market capitalization of £504.55 million, a P/E ratio of -1,511.79, a PEG ratio of 1.06 and a beta of 1.07. The firm's 50-day moving average is GBX 317.48 and its 200 day moving average is GBX 289.63. The company has a debt-to-equity ratio of 11.64, a quick ratio of 2.08 and a current ratio of 2.69.

Hunting announced that its board has approved a stock repurchase plan on Thursday, August 28th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.