Chemring Group (LON:CHG) Given New GBX 660 Price Target at Berenberg Bank

Chemring Group (LON:CHG) had its price target increased by Berenberg Bank from GBX 590 to GBX 660 in a note issued to investors on Monday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s target price points to a potential upside of 9.00% from the company’s current price.

A number of other equities research analysts have also issued reports on CHG. Jefferies Financial Group reissued a “buy” rating and issued a GBX 658 target price on shares of Chemring Group in a research report on Friday. Royal Bank Of Canada decreased 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. Finally, Deutsche Bank Aktiengesellschaft reiterated 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 MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 617.

Chemring Group Stock Performance

CHG opened at GBX 605.50 on Monday. The business’s 50-day moving average price is GBX 535.63 and its two-hundred day moving average price is GBX 526.73. Chemring Group has a 1 year low of GBX 446.52 and a 1 year high of GBX 620. The company has a market capitalization of £1.64 billion, a price-to-earnings ratio of 49.23, a P/E/G ratio of 1.99 and a beta of 0.80. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70.

Chemring Group (LON:CHG) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 6.20 EPS for the quarter. The company had revenue of £237.30 million for the quarter. Chemring Group had a return on equity of 9.03% and a net margin of 6.77%. Equities analysts expect that Chemring Group will post 24.8815166 EPS for the current fiscal year.

Insider Activity

In other Chemring Group news, insider Tony Wood acquired 42,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were purchased at an average cost of GBX 473 per share, with a total value of £198,660. Also, insider Alpna Amar bought 10,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were acquired at an average cost of GBX 474 per share, with a total value of £47,400. 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.