Hunting (LON:HTG) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Analysts at Jefferies Financial Group have raised Hunting's target price from GBX 350 to GBX 400, indicating a potential upside of 16.79% from its current price.
• Hunting's board approved a $40 million stock repurchase program, reflecting management's belief that the shares are undervalued.
• The stock has a consensus rating of "Buy" from five analysts, with an average target price of GBX 501, outperforming multiple other price targets set by analysts.

Hunting (LON:HTG - Get Free Report) had its target price lifted by investment analysts at Jefferies Financial Group from GBX 350 to GBX 400 in a research report issued to clients and investors on Tuesday,Digital Look reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 16.79% from the company's current price.

Several other equities analysts also recently weighed in on the company. Collins Stewart restated a "buy" rating and set a GBX 600 price target on shares of Hunting in a report on Thursday, August 28th. Berenberg Bank restated a "buy" rating and set a GBX 465 price target on shares of Hunting in a report on Thursday, August 28th. Royal Bank Of Canada restated an "outperform" rating and set a GBX 440 price target on shares of Hunting in a report on Tuesday, September 2nd. Finally, Canaccord Genuity Group restated a "buy" rating and set a GBX 600 price target on shares of Hunting in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of GBX 501.

Hunting Price Performance

Shares of LON:HTG opened at GBX 342.50 on Tuesday. Hunting has a 1-year low of GBX 245 and a 1-year high of GBX 395. 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 fifty day moving average price of GBX 319.45 and a 200-day moving average price of GBX 291.43. The company has a market capitalization of £539.18 million, a PE ratio of -1,615.57, a PEG ratio of 1.06 and a beta of 1.07.

Hunting announced that its board has approved a stock repurchase program on Thursday, August 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Margaret Amos purchased 3,007 shares of the business's stock in a transaction on Wednesday, September 24th. The stock was acquired at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Insiders own 3.14% of the company's stock.

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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