Insider Buying: QinetiQ Group (LON:QQ) Insider Purchases 31 Shares of Stock

Key Points

• Steve Wadey, a QinetiQ insider, bought 31 shares on April 9 at GBX 486 (£150.66), adding to prior purchases on Mar 9 (30 shares at GBX 511) and Feb 9 (40 shares at GBX 485), indicating continued insider buying.
• QinetiQ traded at GBX 486.60 with unusually high volume (1,687,216 vs. average 88,555) and the Board has authorized an open-market stock buyback, a move often seen as management signaling the shares may be undervalued.
• Analysts have been bullishly revising targets — Deutsche Bank to GBX 635 and Berenberg at GBX 550 — leaving a consensus rating of Moderate Buy and an average target price of GBX 578.33.

QinetiQ Group plc (LON:QQ - Get Free Report) insider Steve Wadey acquired 31 shares of the company's stock in a transaction on Thursday, April 9th. The shares were acquired at an average cost of GBX 486 per share, for a total transaction of £150.66.

Steve Wadey also recently made the following trade(s):

• On Monday, March 9th, Steve Wadey acquired 30 shares of QinetiQ Group stock. The shares were acquired at an average cost of GBX 511 per share, for a total transaction of £153.30.
• On Monday, February 9th, Steve Wadey acquired 40 shares of QinetiQ Group stock. The shares were acquired at an average cost of GBX 485 per share, for a total transaction of £194.

QinetiQ Group Stock Performance

LON QQ traded down GBX 3.80 during trading on Friday, hitting GBX 486.60. 1,687,216 shares of the company's stock traded hands, compared to its average volume of 88,555. The stock has a market capitalization of £2.69 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.47 and a beta of 0.35. QinetiQ Group plc has a 12-month low of GBX 292.20 and a 12-month high of GBX 491. The business has a 50 day moving average of GBX 491.90 and a 200-day moving average of GBX 478.85.

QinetiQ Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 25th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

QQ has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on QinetiQ Group from GBX 585 to GBX 635 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Berenberg Bank reiterated a "buy" rating and set a GBX 550 price target on shares of QinetiQ Group in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of GBX 578.33.

About QinetiQ Group

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.

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