Chemring Group (LON:CHG) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 536.90 and traded as high as GBX 562. Chemring Group shares last traded at GBX 554, with a volume of 74,445,906 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHG. 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 658 price objective on shares of Chemring Group in a research note on Friday, July 31st. Royal Bank Of Canada lifted their target price on Chemring Group from GBX 580 to GBX 680 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Berenberg Bank boosted their target price on Chemring Group from GBX 590 to GBX 660 and gave the company a “buy” rating in a research note on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 637.

Chemring Group Stock Up 0.5%

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 stock has a market capitalization of £1.51 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 1.99 and a beta of 0.80. The firm’s fifty day simple moving average is GBX 568.01 and its 200 day simple moving average is GBX 537.24.

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

Insider Activity at Chemring Group

In other news, insider Alpna Amar bought 10,000 shares of the stock in a transaction on Friday, June 26th. The stock was purchased at an average price of GBX 474 per share, for a total transaction of £47,400. Also, insider Michael Ord sold 200,000 shares of Chemring Group stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of GBX 612, for a total value of £1,224,000. 1.27% of the stock is owned by corporate 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.