Hunting (LON:HTG) Reaches New 1-Year High – What’s Next?

Hunting PLC (LON:HTG)’s share price reached a new 52-week high on Thursday . The stock traded as high as GBX 376 and last traded at GBX 370, with a volume of 479487 shares traded. The stock had previously closed at GBX 364.

Analyst Ratings Changes

HTG has been the subject of several research analyst reports. Berenberg Bank dropped their price objective on Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 600 price target on shares of Hunting in a research report on Thursday, October 23rd. Jefferies Financial Group upped their price objective on shares of Hunting from GBX 350 to GBX 400 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Collins Stewart reiterated a “buy” rating and set a GBX 600 target price on shares of Hunting in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 440 price target on shares of Hunting in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hunting currently has a consensus rating of “Buy” and an average price target of GBX 498.

Hunting Price Performance

The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64. The business’s 50-day simple moving average is GBX 340.02 and its 200 day simple moving average is GBX 309.37. The firm has a market capitalization of £568.54 million, a P/E ratio of -17.45, a PEG ratio of 1.06 and a beta of 1.07.

Hunting announced that its Board of Directors has initiated a share buyback plan on Thursday, August 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Hunting news, insider Bruce Ferguson purchased 2,122 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of GBX 348 per share, with a total value of £7,384.56. Also, insider Catherine Krajicek purchased 18,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of GBX 350 per share, with a total value of £63,000. Insiders have acquired a total of 23,129 shares of company stock worth $8,036,780 in the last 90 days. 3.22% of the stock is owned by company insiders.

About Hunting

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors.

Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry.

Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment.

Our people are our most important asset.