Hunting (LON:HTG) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Hunting PLC (LON:HTG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 447.57 and traded as high as GBX 503. Hunting shares last traded at GBX 475.03, with a volume of 411,141 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HTG. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 400 price objective on shares of Hunting in a research report on Thursday, April 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 600 price objective on shares of Hunting in a research report on Wednesday, April 15th. Finally, Berenberg Bank raised their price target on shares of Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 536.

Hunting Price Performance

The company has a debt-to-equity ratio of 13.38, a quick ratio of 2.08 and a current ratio of 2.97. The company has a market cap of £681.34 million, a PE ratio of 18.92, a PEG ratio of 1.06 and a beta of 0.71. The company’s 50-day simple moving average is GBX 491.76 and its 200 day simple moving average is GBX 448.43.

Hunting announced that its Board of Directors has approved a stock buyback program on Thursday, March 5th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Bruce Ferguson purchased 6,568 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of GBX 509 per share, for a total transaction of £33,431.12. 3.40% of the stock is owned by corporate insiders.

About Hunting

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.