Chemring Group (LON:CHG) Share Price Passes Above 200 Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 521.65 and traded as high as GBX 586.50. Chemring Group shares last traded at GBX 580, with a volume of 1,048,151 shares changing hands.

Analyst Upgrades and Downgrades

CHG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 650 target price on shares of Chemring Group in a research report on Friday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 658 price target on shares of Chemring Group in a report on Thursday, June 25th. Finally, Royal Bank Of Canada reduced their price target on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chemring Group currently has a consensus rating of “Buy” and a consensus price target of GBX 619.

Chemring Group Stock Performance

The company has a market cap of £1.63 billion, a P/E ratio of 48.90, a P/E/G ratio of 1.99 and a beta of 0.80. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 51.32. The business has a fifty day simple moving average of GBX 520.25 and a two-hundred day simple moving average of GBX 522.50.

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

Insider Buying and Selling

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

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.