QinetiQ Group (LON:QQ) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• QinetiQ shares crossed above their 200-day moving average, reaching GBX 504.50 before closing at GBX 495, above the GBX 479.08 long-term average, on volume of approximately 1.23 million shares.
• Analyst sentiment is cautiously positive: three analysts rate the stock a Buy and two rate it a Hold, producing a consensus rating of “Moderate Buy.” Recent price targets range from GBX 487 to GBX 610, although MarketBeat reports a much higher consensus target of GBX 1,663.40.
• Insider activity was mixed, with an executive purchasing 9,092 shares for about £49,642 while another insider sold 118,534 shares for approximately £508,511. Company insiders own 12.14% of QinetiQ’s stock.

QinetiQ Group plc (LON:QQ - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 479.08 and traded as high as GBX 504.50. QinetiQ Group shares last traded at GBX 495, with a volume of 1,232,803 shares.

Wall Street Analysts Forecast Growth

QQ has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 487 target price on shares of QinetiQ Group in a research note on Wednesday, July 1st. Royal Bank Of Canada raised their price objective on QinetiQ Group from GBX 490 to GBX 570 and gave the company a "sector perform" rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 600 price objective on shares of QinetiQ Group in a research note on Wednesday, July 1st. Berenberg Bank boosted their target price on QinetiQ Group from GBX 580 to GBX 610 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Citigroup raised their price target on QinetiQ Group from GBX 5,690 to GBX 6,050 and gave the company a "buy" rating in a report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,663.40.

QinetiQ Group Stock Performance

The company has a market capitalization of £2.75 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.47 and a beta of 0.33. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 74.20. The business's fifty day moving average is GBX 504.01 and its two-hundred day moving average is GBX 479.08.

Insider Buying and Selling at QinetiQ Group

In other QinetiQ Group news, insider Steven L. Mogford acquired 9,092 shares of QinetiQ Group stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of GBX 546 per share, for a total transaction of £49,642.32. Also, insider Steve Wadey sold 118,534 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of GBX 429, for a total value of £508,510.86. Insiders bought 9,328 shares of company stock valued at $5,087,823 in the last 90 days. Company insiders own 12.14% of the company's stock.

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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