Hunting (LON:HTG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Hunting PLC (LON:HTGGet Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 389.08 and traded as high as GBX 513. Hunting shares last traded at GBX 500.63, with a volume of 223,243 shares trading hands.

Key Stories Impacting Hunting

Here are the key news stories impacting Hunting this week:

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Berenberg Bank upped their price objective on Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research note on Thursday, March 5th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 600 price target on shares of Hunting in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Hunting from GBX 440 to GBX 500 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 536.

Read Our Latest Stock Report on Hunting

Hunting Price Performance

The company has a fifty day moving average of GBX 465.70 and a 200 day moving average of GBX 390.19. The firm has a market capitalization of £709.03 million, a P/E ratio of -22.74, a PEG ratio of 1.06 and a beta of 0.74. The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08.

Hunting announced that its board has authorized a stock buyback program on Thursday, March 5th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Bruce Ferguson sold 66,154 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of GBX 507, for a total value of £335,400.78. 3.40% of the stock is owned by corporate insiders.

Hunting Company Profile

(Get Free Report)

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical, and power generation sectors.

Our strong focus on quality assured products, supported by rigorous health and safety procedures, ensures we assist in the delivery of energy safely and it is also the basis of our standing in this critical, global industry.

Our intellectual property portfolio enables the Hunting Group to maintain a leading technology edge, so that energy projects are delivered quicker and at lower cost with minimal impact on the environment.

Our people are our most important asset.

Featured Stories

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