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

Key Points

• Hunting PLC's stock price has exceeded its 200-day moving average, currently trading at GBX 321.50 ($4.31), with a high of GBX 333 ($4.46) during recent trading.
• Multiple brokerages have given buy ratings for Hunting shares, with consensus target prices averaging at GBX 501, indicating a positive outlook for the stock.
• The company has announced a $40 million stock repurchase plan, allowing for the buyback of up to 6.1% of its stock, suggesting management's belief in the undervaluation of its shares.

Hunting PLC (LON:HTG - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 294.44 ($3.95) and traded as high as GBX 333 ($4.46). Hunting shares last traded at GBX 321.50 ($4.31), with a volume of 350,332 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HTG. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 440 price objective on shares of Hunting in a report on Tuesday, September 2nd. Collins Stewart reissued a "buy" rating and issued a GBX 600 price objective on shares of Hunting in a report on Thursday, August 28th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 465 target price on shares of Hunting in a report on Thursday, August 28th. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 600 target price on shares of Hunting in a report on Wednesday, July 9th. Finally, Jefferies Financial Group lifted their target price on Hunting from GBX 350 to GBX 400 and gave the company a "buy" rating in a report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of GBX 501.

Hunting Stock Down 2.4%

The stock has a 50-day moving average of GBX 325.01 and a two-hundred day moving average of GBX 294.44. The company has a debt-to-equity ratio of 11.64, a quick ratio of 2.08 and a current ratio of 2.69. The company has a market cap of £499.44 million, a P/E ratio of -1,516.51, a P/E/G ratio of 1.06 and a beta of 1.07.

Hunting announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Hunting news, insider Margaret Amos bought 3,007 shares of the business's stock in a transaction on Wednesday, September 24th. The shares were acquired at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Corporate insiders own 3.19% 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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