Chemring Group (LON:CHG) Reaches New 1-Year High – Still a Buy?

Chemring Group PLC (LON:CHG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 617 and last traded at GBX 615.50, with a volume of 2185704 shares. The stock had previously closed at GBX 593.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 650 price target on shares of Chemring Group in a report on Friday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 658 price objective on shares of Chemring Group in a report on Thursday, June 25th. Finally, Royal Bank Of Canada lowered their target price 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. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chemring Group presently has a consensus rating of “Buy” and a consensus price target of GBX 619.

Chemring Group Trading Up 1.3%

The firm has a market cap of £1.63 billion, a P/E ratio of 48.90, a P/E/G ratio of 1.99 and a beta of 0.80. The business’s 50-day moving average is GBX 520.25 and its two-hundred day moving average is GBX 522.50. The company has a current ratio of 1.38, a quick ratio of 0.70 and a debt-to-equity ratio of 51.32.

Chemring Group (LON:CHG) last issued its earnings results on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share (EPS) 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%. As a group, analysts expect that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tony Wood acquired 42,000 shares of Chemring Group stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of GBX 473 per share, for a total transaction of £198,660. Also, insider Alpna Amar acquired 10,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of GBX 474 per share, with a total value of £47,400. Insiders own 1.17% of the company’s stock.

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.