Hunting (LON:HTG) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Hunting PLC (LON:HTG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 313.53 and traded as high as GBX 369.50. Hunting shares last traded at GBX 366.50, with a volume of 212,424 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HTG shares. Jefferies Financial Group raised their price objective on Hunting from GBX 350 to GBX 400 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Collins Stewart restated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a research note on Thursday, August 28th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 600 price objective on shares of Hunting in a report on Thursday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 440 target price on shares of Hunting in a report on Tuesday, September 2nd. Finally, Berenberg Bank decreased their price target on shares of Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hunting currently has a consensus rating of “Buy” and an average price target of GBX 498.

Hunting Price Performance

The firm has a market cap of £563.16 million, a P/E ratio of -17.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07. The stock’s 50-day moving average is GBX 344.40 and its 200-day moving average is GBX 313.53. The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64.

Hunting announced that its board has initiated a stock repurchase program on Thursday, August 28th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Hunting

In other news, insider Catherine Krajicek bought 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of GBX 350 per share, with a total value of £63,000. Also, insider Bruce Ferguson bought 2,122 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of GBX 348 per share, for a total transaction of £7,384.56. In the last 90 days, insiders have purchased 23,129 shares of company stock worth $8,036,780. 3.22% of the stock is currently owned by company insiders.

About Hunting

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.