Hunting (LON:HTG) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Hunting PLC's stock price has crossed above its 200-day moving average, reaching a high of GBX 336.50 ($4.49), signaling potential upward momentum.
• Analysts maintain a favorable outlook on the stock, with multiple firms issuing buy ratings and target prices ranging from GBX 440 to GBX 600, leading to an average target of GBX 526.25.
• The company has announced a $40 million share repurchase plan, indicating that the board views the stock as undervalued, alongside insider purchases suggesting confidence in the company's future performance.

Shares of Hunting PLC (LON:HTG - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 290.65 ($3.88) and traded as high as GBX 336.50 ($4.49). Hunting shares last traded at GBX 335.50 ($4.48), with a volume of 246,611 shares.

Analyst Upgrades and Downgrades

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

Hunting Trading Up 0.7%

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 business has a 50-day moving average of GBX 318.43 and a 200-day moving average of GBX 290.65. The firm has a market cap of £531.81 million, a price-to-earnings ratio of -1,593.47, a P/E/G ratio of 1.06 and a beta of 1.07.

Hunting announced that its board has initiated a share 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 buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider Margaret Amos bought 3,007 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were acquired at an average price of GBX 332 per share, with a total value of £9,983.24. Corporate insiders own 3.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.