Hunting (LON:HTG) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Hunting PLC (LON:HTG)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 313.53 and traded as high as GBX 369.50. Hunting shares last traded at GBX 366.50, with a volume of 212,424 shares.

Analyst Upgrades and Downgrades

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

Hunting Stock Performance

The firm’s 50-day moving average price is GBX 344.40 and its two-hundred day moving average price is GBX 313.53. The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64. The firm has a market capitalization of £563.16 million, a PE ratio of -17.29, a P/E/G ratio of 1.06 and a beta of 1.07.

Hunting announced that its Board of Directors has initiated a stock repurchase program on Thursday, August 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Hunting

In related news, insider Catherine Krajicek purchased 18,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of GBX 350 per share, with a total value of £63,000. Also, insider Bruce Ferguson acquired 2,122 shares of Hunting stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of GBX 348 per share, with a total value of £7,384.56. Over the last three months, insiders have purchased 23,129 shares of company stock valued at $8,036,780. Corporate insiders own 3.22% 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.