Hunting (LON:HTG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Hunting PLC (LON:HTG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 441.77 and traded as high as GBX 510. Hunting shares last traded at GBX 504.81, with a volume of 198,429 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HTG. Royal Bank Of Canada lifted their price objective on shares of Hunting from GBX 440 to GBX 500 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Berenberg Bank lifted their price objective on shares of Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a report on Thursday, March 5th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 400 price objective on shares of Hunting in a report on Thursday, April 16th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 536.

Hunting Stock Performance

The stock has a market capitalization of £738.89 million, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.06 and a beta of 0.71. The company’s fifty day simple moving average is GBX 493.23 and its 200 day simple moving average is GBX 441.77. The company has a quick ratio of 2.08, a current ratio of 2.97 and a debt-to-equity ratio of 13.38.

Hunting declared that its board has approved a stock buyback plan on Thursday, March 5th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Hunting news, insider Bruce Ferguson bought 6,568 shares of Hunting stock in a transaction dated Friday, March 13th. The stock was bought at an average price of GBX 509 per share, with a total value of £33,431.12. Insiders own 3.40% of the company’s stock.

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.