Hunting's (HTG) "Outperform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reiterated an "outperform" rating for Hunting (HTG) with a price target of GBX 440, indicating a potential upside of 31.85% from the current price.
• The company recently launched a $40 million share repurchase program, signaling confidence from its Board of Directors in the stock's valuation.
• Hunting currently holds a consensus rating of "Buy" from four research analysts, with an average price target of GBX 526.25.

Hunting (LON:HTG - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Royal Bank Of Canada in a research note issued on Tuesday,London Stock Exchange reports. They presently have a GBX 440 price target on the stock. Royal Bank Of Canada's price target points to a potential upside of 31.85% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Collins Stewart reissued a "buy" rating and issued a GBX 600 price target on shares of Hunting in a report on Thursday, August 28th. 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. Finally, Berenberg Bank reissued a "buy" rating and issued a GBX 465 price objective on shares of Hunting in a report on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hunting presently has a consensus rating of "Buy" and a consensus price target of GBX 526.25.

Hunting Stock Performance

Shares of HTG stock opened at GBX 333.70 on Tuesday. The firm has a 50-day moving average of GBX 310.30 and a 200-day moving average of GBX 288.28. 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 company has a market cap of £526.41 million, a P/E ratio of -1,896.02, a P/E/G ratio of 1.06 and a beta of 1.07. Hunting has a one year low of GBX 245 and a one year high of GBX 454.

Hunting announced that its Board of Directors has initiated a share repurchase program on Thursday, August 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board 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.

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