QinetiQ Group (LON:QQ) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Technical breakout: QinetiQ shares crossed above their 200‑day moving average (GBX 478.85), trading as high as GBX 495.70 and last at GBX 490.40 on volume of 2,426,249.
• Analyst sentiment: The stock has a "Moderate Buy" consensus with two Buy and two Hold ratings and a consensus price target of GBX 578.33, and Deutsche Bank recently raised its target to GBX 635.
• Corporate actions & fundamentals: The board approved an open‑market share buyback program; the company has a market cap of £2.69 billion, a P/E of 20.15 and a PEG of 1.47.

Shares of QinetiQ Group plc (LON:QQ - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 478.85 and traded as high as GBX 495.70. QinetiQ Group shares last traded at GBX 490.40, with a volume of 2,426,249 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Berenberg Bank restated a "buy" rating and issued a GBX 550 price target on shares of QinetiQ Group in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of QinetiQ Group from GBX 585 to GBX 635 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 578.33.

QinetiQ Group Price Performance

The company has a market cap of £2.69 billion, a P/E ratio of 20.15, a PEG ratio of 1.47 and a beta of 0.35. The stock has a 50-day moving average of GBX 491.90 and a 200 day moving average of GBX 478.85.

QinetiQ Group declared that its Board of Directors has approved a share buyback program on Wednesday, March 25th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are 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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