Chemring Group (LON:CHG) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Shares of Chemring Group PLC (LON:CHG) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 539.55 and traded as high as GBX 542.50. Chemring Group shares last traded at GBX 533.50, with a volume of 1,169,416 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHG shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 650 price objective on shares of Chemring Group in a research note on Friday, June 26th. Royal Bank Of Canada boosted their target price on shares of Chemring Group from GBX 580 to GBX 680 and gave the stock an “outperform” rating in a report on Monday, August 10th. Berenberg Bank decreased their price target on shares of Chemring Group from GBX 660 to GBX 650 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 658 price target on shares of Chemring Group in a research note on Thursday, October 15th. Five equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Chemring Group currently has a consensus rating of “Buy” and an average price target of GBX 635.

Chemring Group Trading Up 1.2%

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 company has a market cap of £1.46 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 1.99 and a beta of 0.80. The firm has a 50 day moving average price of GBX 538.50 and a two-hundred day moving average price of GBX 539.55.

Insider Activity at Chemring Group

In other Chemring Group news, insider Sarah Ellard sold 57,597 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of GBX 602, for a total transaction of £346,733.94. Also, insider Michael Ord sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of GBX 612, for a total transaction 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.