Chemring Group (LON:CHG) Reaches New 12-Month High Following Analyst Upgrade

Chemring Group PLC (LON:CHG) shares hit a new 52-week high during mid-day trading on Tuesday after Berenberg Bank raised their price target on the stock from GBX 590 to GBX 660. Berenberg Bank currently has a buy rating on the stock. Chemring Group traded as high as GBX 621.50 and last traded at GBX 620.50, with a volume of 1838625 shares changing hands. The stock had previously closed at GBX 604.50.

CHG has been the subject of several other research reports. Jefferies Financial Group reissued a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 650 price target on shares of Chemring Group in a report on Friday, June 26th. Finally, Royal Bank Of Canada dropped their price objective on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 617.

Insiders Place Their Bets

In other Chemring Group news, insider Sarah Ellard sold 57,597 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of GBX 602, for a total value of £346,733.94. Also, insider Alpna Amar purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of GBX 474 per share, with a total value of £47,400. Company insiders own 1.17% of the company’s stock.

Chemring Group Stock Performance

The company’s 50-day moving average price is GBX 537.19 and its two-hundred day moving average price is GBX 527.12. The company has a market capitalization of £1.67 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 1.99 and a beta of 0.80. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70.

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

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.