Chemring Group (LON:CHG) Price Target Raised to GBX 537 at Panmure Gordon

Chemring Group (LON:CHG) had its target price upped by research analysts at Panmure Gordon from GBX 480 to GBX 537 in a report issued on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Panmure Gordon’s target price suggests a potential upside of 6.38% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group increased their price objective on shares of Chemring Group from GBX 530 to GBX 640 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 600 price target on shares of Chemring Group in a report on Monday. Finally, Berenberg Bank raised their price objective on shares of Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 611.75.

Chemring Group Price Performance

CHG traded down GBX 3.23 during trading on Wednesday, reaching GBX 504.77. 1,322,361 shares of the stock were exchanged, compared to its average volume of 2,671,555. The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The company has a market capitalization of £1.36 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 1.99 and a beta of 0.68. Chemring Group has a 1 year low of GBX 297.50 and a 1 year high of GBX 614. The business’s 50 day moving average price is GBX 560.98 and its two-hundred day moving average price is GBX 537.71.

Insider Activity

In other news, insider Pete Raby bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were purchased at an average price of GBX 544 per share, for a total transaction of £32,640. 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.