QinetiQ Group (LON:QQ) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• QinetiQ shares crossed above their 200-day moving average
• Analyst sentiment is positive: Deutsche Bank raised its target to GBX 635 (from GBX 585) and Berenberg reaffirmed a GBX 550 buy, leaving a consensus rating of "Moderate Buy" with an average target of GBX 578.33 (two Buy, two Hold).
• The board authorized a stock repurchase program on March 25, which the report oddly lists as allowing repurchase of 0 shares, but the move is framed as a sign management may view the stock as undervalued.

QinetiQ Group plc (LON:QQ - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 477.14 and traded as high as GBX 490.90. QinetiQ Group shares last traded at GBX 480.10, with a volume of 1,100,579 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Berenberg Bank reaffirmed a "buy" rating and set a GBX 550 price objective on shares of QinetiQ Group in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft boosted their target price on QinetiQ Group from GBX 585 to GBX 635 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of GBX 578.33.

QinetiQ Group Price Performance

The firm has a market capitalization of £2.67 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.47 and a beta of 0.35. The firm's 50 day simple moving average is GBX 490.69 and its two-hundred day simple moving average is GBX 477.14.

QinetiQ Group announced that its board has authorized a stock repurchase program on Wednesday, March 25th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

QinetiQ Group Company Profile

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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