Hunting (LON:HTG) Share Price Passes Above 200-Day Moving Average – Here’s Why

Hunting PLC (LON:HTG)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 395.43 and traded as high as GBX 502. Hunting shares last traded at GBX 471, with a volume of 1,983,564 shares.

Analyst Ratings Changes

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

Hunting Trading Down 2.3%

The stock has a market cap of £692.85 million, a PE ratio of -22.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74. 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 50 day moving average of GBX 474.94 and a two-hundred day moving average of GBX 395.93.

Hunting announced that its board has initiated a share repurchase plan on Thursday, March 5th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Hunting news, insider Bruce Ferguson sold 66,154 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of GBX 507, for a total transaction of £335,400.78. Corporate insiders own 3.40% of the company’s stock.

Hunting Company Profile

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.