QinetiQ Group (LON:QQ) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

QinetiQ Group plc (LON:QQ)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 473.53 and traded as high as GBX 488.40. QinetiQ Group shares last traded at GBX 467.60, with a volume of 1,422,553 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QQ. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 487 price objective on shares of QinetiQ Group in a report on Wednesday, July 1st. Citigroup boosted their price target on shares of QinetiQ Group from GBX 5,690 to GBX 6,050 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 600 price target on shares of QinetiQ Group in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 1,921.75.

QinetiQ Group Stock Down 2.5%

The firm has a market cap of £2.49 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.33. The company has a 50-day simple moving average of GBX 451.09 and a 200-day simple moving average of GBX 473.45. The company has a debt-to-equity ratio of 74.20, a current ratio of 1.13 and a quick ratio of 1.15.

QinetiQ Group (LON:QQ) last issued its quarterly earnings results on Thursday, May 21st. The company reported GBX 31.50 earnings per share for the quarter. The firm had revenue of GBX 192.26 billion for the quarter. QinetiQ Group had a return on equity of 19.34% and a net margin of 5.59%. Analysts expect that QinetiQ Group plc will post 26.1405108 earnings per share for the current fiscal year.

QinetiQ Group declared that its board has approved a stock buyback program on Wednesday, March 25th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other QinetiQ Group news, insider Steve Wadey sold 37,219 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of GBX 435, for a total value of £161,902.65. In the last three months, insiders have bought 100 shares of company stock worth $45,068. Company insiders own 12.14% of the company’s stock.

About QinetiQ Group

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.