Chemring Group (LON:CHG) Hits New 1-Year High Following Analyst Upgrade

Chemring Group PLC (LON:CHG) shares hit a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from GBX 580 to GBX 680. Royal Bank Of Canada currently has an outperform rating on the stock. Chemring Group traded as high as GBX 644.50 and last traded at GBX 643.50, with a volume of 243430 shares changing hands. The stock had previously closed at GBX 627.

Several other equities analysts have also weighed in on the stock. Berenberg Bank increased their price objective on shares of Chemring Group from GBX 590 to GBX 660 and gave the company a “buy” rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 658 target price on shares of Chemring Group in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 650 target price on shares of Chemring Group in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chemring Group presently has an average rating of “Buy” and a consensus price target of GBX 637.

Insiders Place Their Bets

In other Chemring Group news, insider Alpna Amar acquired 10,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were acquired at an average price of GBX 474 per share, for a total transaction of £47,400. Also, insider Michael Ord sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of GBX 612, for a total transaction of £1,224,000. 1.27% of the stock is owned by company insiders.

Chemring Group Stock Performance

The stock’s 50 day moving average is GBX 544.12 and its two-hundred day moving average is GBX 529.41. The stock has a market capitalization of £1.74 billion, a price-to-earnings ratio of 52.32, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80. 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 released its quarterly 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 return on equity of 9.03% and a net margin of 6.77%. Analysts expect that Chemring Group PLC will post 24.8815166 earnings per share for the current fiscal year.

About Chemring Group

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.