Chemring Group (LON:CHG) Shares Pass Above 200 Day Moving Average – What’s Next?

Chemring Group PLC (LON:CHG)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 539.31 and traded as high as GBX 547.50. Chemring Group shares last traded at GBX 531.50, with a volume of 1,624,262 shares.

Analyst Upgrades and Downgrades

CHG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 650 price target on shares of Chemring Group in a research report on Friday, June 26th. Berenberg Bank increased their price target on Chemring Group from GBX 590 to GBX 660 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a GBX 658 price target on shares of Chemring Group in a report on Friday, July 31st. Finally, Royal Bank Of Canada upped their price objective on Chemring Group from GBX 580 to GBX 680 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 637.

Chemring Group Stock Down 1.1%

The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70. The company’s 50-day simple moving average is GBX 572.36 and its 200 day simple moving average is GBX 539.31. The firm has a market cap of £1.44 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80.

Insider Buying and Selling

In other Chemring Group news, insider Sarah Ellard sold 57,597 shares of the business’s stock in a transaction 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 Alpna Amar bought 10,000 shares of Chemring Group stock in a transaction dated Friday, June 26th. The stock was purchased at an average cost of GBX 474 per share, for a total transaction of £47,400. 1.17% of the stock is currently owned by company insiders.

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.