Hunting (LON:HTG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Hunting PLC (LON:HTG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 456.18 and traded as high as GBX 491. Hunting shares last traded at GBX 489.50, with a volume of 294,077 shares trading hands.

Analyst Ratings Changes

HTG has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 400 price target on shares of Hunting in a report on Thursday, April 16th. Berenberg Bank raised their price objective on Hunting from GBX 450 to GBX 580 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group restated a “buy” rating and set a GBX 600 target price on shares of Hunting in a research note on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Hunting has an average rating of “Moderate Buy” and an average target price of GBX 536.

Hunting Trading Up 2.7%

The company has a 50 day simple moving average of GBX 488.65 and a two-hundred day simple moving average of GBX 456.18. The company has a debt-to-equity ratio of 13.38, a quick ratio of 2.08 and a current ratio of 2.97. The firm has a market cap of £715.25 million, a PE ratio of 19.90, a P/E/G ratio of 1.06 and a beta of 0.71.

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

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.