Chemring Group (LON:CHG) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Chemring Group PLC (LON:CHG)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 511.12 and traded as high as GBX 530. Chemring Group shares last traded at GBX 527, with a volume of 964,728 shares trading hands.

Wall Street Analyst Weigh In

CHG has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Chemring Group from GBX 600 to GBX 580 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 650 price target on shares of Chemring Group in a report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 619.40.

Chemring Group Stock Performance

The firm’s fifty day moving average is GBX 521.80 and its 200 day moving average is GBX 511.50. The firm has a market capitalization of £1.42 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 1.99 and a beta of 0.80. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.38 and a quick ratio of 0.71.

Chemring Group (LON:CHG) last released its quarterly earnings data on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. The firm had revenue of £237.30 million for the quarter. Chemring Group had a net margin of 6.77% and a return on equity of 9.03%. On average, analysts predict that Chemring Group PLC will post 24.8815166 EPS for the current fiscal year.

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.