Chemring Group (LON:CHG) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Chemring Group shares crossed above their 200-day moving average, reaching GBX 562 before last trading at GBX 554 on heavy volume. The 200-day average was GBX 536.90.
• Analysts remain bullish, with five Buy ratings and an average price target of GBX 637; recent targets range from GBX 650 to GBX 680.
• The company reported quarterly EPS of GBX 6.20 and revenue of £237.3 million, while insider activity included a director purchase of 42,000 shares and a sale of 200,000 shares.

Chemring Group PLC (LON:CHG - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 536.90 and traded as high as GBX 562. Chemring Group shares last traded at GBX 554, with a volume of 74,445,906 shares.

Wall Street Analyst Weigh In

Several analysts have commented on CHG shares. Berenberg Bank upped their price objective on Chemring Group from GBX 590 to GBX 660 and gave the company a "buy" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 650 target price on shares of Chemring Group in a research note on Friday, June 26th. Royal Bank Of Canada boosted their target price on Chemring Group from GBX 580 to GBX 680 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Jefferies Financial Group restated a "buy" rating and set a GBX 658 price target on shares of Chemring Group in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chemring Group has an average rating of "Buy" and an average price target of GBX 637.

Chemring Group Price Performance

The company has a market cap of £1.50 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.99 and a beta of 0.80. The company's 50 day moving average price is GBX 566.80 and its 200 day moving average price is GBX 536.90. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32.

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

Insiders Place Their Bets

In other Chemring Group news, insider Tony Wood bought 42,000 shares of the business's stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of GBX 473 per share, with a total value of £198,660. Also, insider Michael Ord sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of GBX 612, for a total value of £1,224,000. 1.27% of the stock is owned by corporate insiders.

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.

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