Panmure Gordon Forecasts Strong Price Appreciation for Chemring Group (LON:CHG) Stock

Chemring Group (LON:CHG) had its target price lifted by analysts at Panmure Gordon from GBX 480 to GBX 537 in a research report issued to clients and investors on Wednesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Panmure Gordon’s target price would indicate a potential upside of 6.38% from the company’s current price.

Several other research firms also recently weighed in on CHG. Berenberg Bank boosted their target price on shares of Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Jefferies Financial Group lifted their price objective on shares of Chemring Group from GBX 530 to GBX 640 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 price objective on shares of Chemring Group in a research note on Monday. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Chemring Group currently has a consensus rating of “Buy” and an average target price of GBX 611.75.

Chemring Group Stock Down 0.6%

LON CHG traded down GBX 3.23 during trading on Wednesday, hitting GBX 504.77. The company’s stock had a trading volume of 1,322,361 shares, compared to its average volume of 2,671,555. Chemring Group has a fifty-two week low of GBX 297.50 and a fifty-two week high of GBX 614. The company has a market cap of £1.36 billion, a PE ratio of 31.95, a P/E/G ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The business’s 50 day simple moving average is GBX 560.98 and its 200-day simple moving average is GBX 537.71.

Insider Buying and Selling at Chemring Group

In related news, insider Pete Raby acquired 6,000 shares of Chemring Group stock in a transaction dated Monday, September 8th. The shares were acquired at an average cost of GBX 544 per share, for a total transaction of £32,640. Company insiders own 1.17% of the company’s stock.

About Chemring Group

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.