Hunting (LON:HTG) Sets New 52-Week High After Analyst Upgrade

Hunting PLC (LON:HTG) shares hit a new 52-week high on Tuesday after Royal Bank Of Canada raised their price target on the stock from GBX 440 to GBX 500. Royal Bank Of Canada currently has an outperform rating on the stock. Hunting traded as high as GBX 420 and last traded at GBX 420, with a volume of 109320 shares changing hands. The stock had previously closed at GBX 407.

Several other brokerages also recently commented on HTG. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 600 target price on shares of Hunting in a research note on Thursday, October 23rd. Berenberg Bank lowered their price target on Hunting from GBX 465 to GBX 450 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, Jefferies Financial Group lifted 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. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hunting currently has an average rating of “Buy” and an average price target of GBX 510.

Insider Transactions at Hunting

In other news, insider Margaret Amos bought 5,136 shares of the company’s stock in a transaction on Friday, December 12th. The shares were acquired at an average cost of GBX 387 per share, with a total value of £19,876.32. Also, insider Bruce Ferguson purchased 2,122 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of GBX 348 per share, with a total value of £7,384.56. Insiders bought 45,258 shares of company stock valued at $16,786,088 over the last 90 days. 3.14% of the stock is owned by corporate insiders.

Hunting Price Performance

The company has a market capitalization of £632.22 million, a P/E ratio of -19.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. The firm’s 50-day moving average is GBX 376.98 and its 200-day moving average is GBX 343.35.

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.