Chemring Group (LON:CHG) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Chemring Group PLC (LON:CHG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 526.47 and traded as high as GBX 598. Chemring Group shares last traded at GBX 586.50, with a volume of 34,186,055 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHG. Royal Bank Of Canada lowered their price objective on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 650 price target on shares of Chemring Group in a report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 619.

Chemring Group Price Performance

The stock has a 50-day simple moving average of GBX 535.63 and a 200 day simple moving average of GBX 526.93. The company has a debt-to-equity ratio of 51.32, a quick ratio of 0.70 and a current ratio of 1.38. The company has a market cap of £1.60 billion, a P/E ratio of 48.13, a P/E/G ratio of 1.99 and a beta of 0.80.

Chemring Group (LON:CHG) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. The company had revenue of £237.30 million for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%. On average, equities analysts expect that Chemring Group PLC will post 24.8815166 EPS for the current year.

Insiders Place Their Bets

In other Chemring Group news, insider Tony Wood purchased 42,000 shares of the stock in a transaction on Friday, June 26th. The shares were purchased at an average price of GBX 473 per share, with a total value of £198,660. Also, insider Alpna Amar acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of GBX 474 per share, with a total value of £47,400. 1.17% of the stock is owned by insiders.

About Chemring Group

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.