Chemring Group (LON:CHG) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Chemring Group PLC (LON:CHG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 511.54 and traded as high as GBX 559.50. Chemring Group shares last traded at GBX 549, with a volume of 1,619,306 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada restated an “outperform” rating and set a GBX 600 target price on shares of Chemring Group in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 616.75.

Chemring Group Price Performance

The firm’s 50-day moving average price is GBX 520.27 and its 200-day moving average price is GBX 511.54. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 40.39. The stock has a market capitalization of £1.49 billion, a PE ratio of 31.37, a PEG ratio of 1.99 and a beta of 0.82.

Chemring Group Company Profile

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.