Chemring Group (LON:CHG) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Chemring Group PLC (LON:CHG)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 535.32 and traded as low as GBX 531.50. Chemring Group shares last traded at GBX 533, with a volume of 521,879 shares trading hands.

Wall Street Analysts Forecast Growth

CHG has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a research report on Thursday, October 15th. Berenberg Bank cut their price target on Chemring Group from GBX 660 to GBX 650 and set a “buy” rating for the company in a report on Thursday, October 15th. Finally, Royal Bank Of Canada increased their price objective 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. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 635.

Chemring Group Stock Performance

The stock’s 50-day moving average is GBX 535.11 and its 200-day moving average is GBX 535.32. The stock has a market cap of £1.42 billion, a price-to-earnings ratio of 42.56, a P/E/G ratio of 1.99 and a beta of 0.80. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32.

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.