Chemring Group (LON:CHG) Stock Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Chemring Group shares briefly broke above their 200-day moving average of GBX 539.55, reaching GBX 542.50 before closing at GBX 533.50 on volume of about 1.17 million shares.
• Analysts remain bullish: five firms rate the stock a Buy, with a consensus price target of GBX 635. Recent targets range from GBX 650 to GBX 680.
• Company insiders sold shares worth approximately £1.57 million in August, while insiders collectively own 1.17% of Chemring Group.

Chemring Group PLC (LON:CHG - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 539.55 and traded as high as GBX 542.50. Chemring Group shares last traded at GBX 533.50, with a volume of 1,169,416 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHG. Jefferies Financial Group restated a "buy" rating and issued a GBX 658 price target on shares of Chemring Group in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 650 price target on shares of Chemring Group in a research note on Friday, June 26th. Berenberg Bank decreased their price objective on shares of Chemring Group from GBX 660 to GBX 650 and set a "buy" rating for the company in a report on Thursday, October 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of Chemring Group from GBX 580 to GBX 680 and gave the company an "outperform" rating in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of GBX 635.

Chemring Group Price Performance

The business's 50-day simple moving average is GBX 540.27 and its 200 day simple moving average is GBX 539.55. The firm has a market cap of £1.44 billion, a PE ratio of 43.37, a P/E/G 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.

Insider Buying and Selling at Chemring Group

In other Chemring Group news, 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. Also, insider Sarah Ellard sold 57,597 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of GBX 602, for a total transaction of £346,733.94. 1.17% of the stock is currently owned by company 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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