Insider Buying: Hunting (LON:HTG) Insider Buys 3,007 Shares of Stock

Key Points

• Insider Margaret Amos purchased 3,007 shares of Hunting PLC stock at an average price of GBX 332, totaling approximately £9,983.24.
• Hunting PLC has approved a stock buyback plan allowing for the repurchase of $40 million worth of shares, which indicates management's belief that the stock is undervalued.
• Equity analysts have a consensus "Buy" rating on Hunting shares, with target prices ranging from GBX 440 to GBX 600, suggesting potential growth in value.

Hunting PLC (LON:HTG - Get Free Report) insider Margaret Amos purchased 3,007 shares of the firm's stock in a transaction on Wednesday, September 24th. The stock was bought at an average price of GBX 332 per share, with a total value of £9,983.24.

Hunting Stock Up 0.6%

LON HTG traded up GBX 2 on Wednesday, reaching GBX 332. The company had a trading volume of 358,676 shares, compared to its average volume of 668,950. The firm has a market capitalization of £522.65 million, a PE ratio of -1,566.04, a P/E/G ratio of 1.06 and a beta of 1.07. Hunting PLC has a 1 year low of GBX 245 and a 1 year high of GBX 395. The firm has a 50-day moving average of GBX 317.66 and a 200-day moving average of GBX 290.08. The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08.

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

Wall Street Analyst Weigh In

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

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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