Chemring Group (LON:CHG) Hits New 1-Year High – Still a Buy?

Shares of Chemring Group PLC (LON:CHG) reached a new 52-week high on Thursday . The company traded as high as GBX 617 and last traded at GBX 615.50, with a volume of 2185704 shares changing hands. The stock had previously closed at GBX 593.50.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 650 price target on shares of Chemring Group in a research note on Friday, June 26th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 658 price objective on shares of Chemring Group in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada reduced their target price on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Chemring Group presently has an average rating of “Buy” and an average price target of GBX 619.

Chemring Group Stock Performance

The company has a market capitalization of £1.61 billion, a P/E ratio of 48.50, a P/E/G ratio of 1.99 and a beta of 0.80. The business has a 50-day moving average of GBX 525.47 and a 200-day moving average of GBX 523.90. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.70.

Chemring Group (LON:CHG) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 EPS for the quarter. Chemring Group had a net margin of 6.77% and a return on equity of 9.03%. The company had revenue of £237.30 million during the quarter. On average, sell-side analysts anticipate that Chemring Group PLC will post 24.8815166 EPS for the current year.

Insider Transactions at Chemring Group

In other news, insider Alpna Amar purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average cost of GBX 474 per share, for a total transaction of £47,400. Also, insider Tony Wood acquired 42,000 shares of Chemring Group stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of GBX 473 per share, for a total transaction of £198,660. 1.17% of the stock is currently owned by insiders.

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.