Michael Ord Sells 200,000 Shares of Chemring Group (LON:CHG) Stock

Key Points

• Insider sale: Michael Ord sold 200,000 Chemring Group shares at an average of GBX 612, generating approximately £1.224 million.
• Stock performance: Shares rose to GBX 635.45, near their 1-year high of GBX 638. The company has a market capitalization of about £1.72 billion and a price-to-earnings ratio of 51.66.
• Analyst outlook: Analysts maintain a consensus “Buy” rating, with a GBX 617 average target price; recent targets range from GBX 580 to GBX 660.

Chemring Group PLC (LON:CHG - Get Free Report) insider Michael Ord sold 200,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of GBX 612, for a total value of £1,224,000.

Chemring Group Stock Performance

Shares of CHG stock traded up GBX 21.95 during mid-day trading on Wednesday, reaching GBX 635.45. The stock had a trading volume of 587,755 shares, compared to its average volume of 4,565,007. Chemring Group PLC has a 1-year low of GBX 446.52 and a 1-year high of GBX 638. The firm has a market cap of £1.72 billion, a price-to-earnings ratio of 51.66, a PEG ratio of 1.99 and a beta of 0.80. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32. The business's fifty day moving average is GBX 538.99 and its 200-day moving average is GBX 527.61.

Chemring Group (LON:CHG - Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported GBX 6.20 EPS for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%.The firm had revenue of £237.30 million during the quarter. On average, research analysts forecast that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Chemring Group from GBX 600 to GBX 580 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 650 target price on shares of Chemring Group in a research note on Friday, June 26th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 658 target price on shares of Chemring Group in a report on Friday, July 31st. Finally, Berenberg Bank lifted their price target on Chemring Group from GBX 590 to GBX 660 and gave the company a "buy" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chemring Group presently has an average rating of "Buy" and a consensus target price of GBX 617.

Chemring Group Company Profile

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers' complex needs. Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today's increasingly unstable world. We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success. Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source