Hunting (LON:HTG) Hits New 52-Week High – What’s Next?

Hunting PLC (LON:HTG)’s stock price hit a new 52-week high on Wednesday . The company traded as high as GBX 373 and last traded at GBX 357, with a volume of 18372693 shares trading hands. The stock had previously closed at GBX 363.

Analysts Set New Price Targets

A number of research analysts have issued reports on HTG shares. Canaccord Genuity Group reissued a “buy” rating and set a GBX 600 price objective on shares of Hunting in a report on Thursday, October 23rd. Jefferies Financial Group boosted their target price on Hunting from GBX 350 to GBX 400 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Berenberg Bank dropped their price objective on Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a report on Thursday, October 23rd. Collins Stewart reiterated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a report on Thursday, August 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 440 price objective on shares of Hunting in a research report on Tuesday, September 2nd. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 498.

Hunting Stock Down 1.7%

The firm has a market cap of £548.56 million, a P/E ratio of -16.84, a P/E/G ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 11.64, a quick ratio of 2.08 and a current ratio of 2.69. The firm’s fifty day moving average is GBX 336.37 and its 200 day moving average is GBX 305.33.

Hunting declared that its board has approved a share buyback program on Thursday, August 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Catherine Krajicek purchased 18,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of GBX 350 per share, with a total value of £63,000. Also, insider Margaret Amos acquired 3,007 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were acquired at an average price of GBX 332 per share, with a total value of £9,983.24. Insiders bought 23,129 shares of company stock valued at $8,036,780 over the last quarter. 3.22% of the stock is owned by company insiders.

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.