Berenberg Bank Has Lowered Expectations for Chemring Group (LON:CHG) Stock Price

Chemring Group (LON:CHG) had its price target dropped by research analysts at Berenberg Bank from GBX 660 to GBX 650 in a report issued on Thursday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 25.48% from the stock’s previous close.

CHG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 650 target price on shares of Chemring Group in a report on Friday, June 26th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 658 price target on shares of Chemring Group in a research report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their price target on shares of Chemring Group from GBX 580 to GBX 680 and gave the company an “outperform” rating in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 635.

Chemring Group Price Performance

Shares of Chemring Group stock opened at GBX 518 on Thursday. 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 stock has a market capitalization of £1.40 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80. Chemring Group has a twelve month low of GBX 446.52 and a twelve month high of GBX 650.75. The company has a 50-day simple moving average of GBX 551.88 and a two-hundred day simple moving average of GBX 539.08.

Insider Buying and Selling at Chemring Group

In related news, insider Sarah Ellard sold 57,597 shares of the business’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 Michael Ord sold 200,000 shares of the business’s 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. Corporate insiders own 1.17% of the company’s stock.

Chemring Group Company Profile

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.