Chemring Group (LON:CHG) Price Target Raised to GBX 660

Chemring Group (LON:CHG) had its price target raised by Berenberg Bank from GBX 590 to GBX 660 in a report issued on Monday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on CHG. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 658 price target on shares of Chemring Group in a research note on Friday, July 31st. Royal Bank Of Canada lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 650 price objective on shares of Chemring Group in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 617.

Chemring Group Price Performance

CHG stock opened at GBX 630 on Monday. The business’s 50-day moving average is GBX 541.08 and its two-hundred day moving average is GBX 528.24. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70. The firm has a market capitalization of £1.70 billion, a P/E ratio of 51.22, a P/E/G ratio of 1.99 and a beta of 0.80. Chemring Group has a 1 year low of GBX 446.52 and a 1 year high of GBX 643.50.

Chemring Group (LON:CHG) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 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. Analysts anticipate that Chemring Group will post 24.8815166 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chemring Group news, insider Alpna Amar acquired 10,000 shares of the stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of GBX 474 per share, with a total value of £47,400. Also, insider Tony Wood acquired 42,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of GBX 473 per share, for a total transaction of £198,660. 1.17% of the stock is currently owned by corporate insiders.

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.