Berenberg Bank Cuts Hunting (LON:HTG) Price Target to GBX 450

Hunting (LON:HTG) had its price objective decreased by Berenberg Bank from GBX 465 to GBX 450 in a research note issued to investors on Thursday, Marketbeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Several other research firms have also recently weighed in on HTG. Canaccord Genuity Group reissued a “buy” rating and set a GBX 600 price objective on shares of Hunting in a research report on Thursday. Jefferies Financial Group upped their price target on Hunting from GBX 350 to GBX 400 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Collins Stewart restated a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a research note on Thursday, August 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 440 price objective on shares of Hunting in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hunting has a consensus rating of “Buy” and a consensus price target of GBX 498.

Hunting Stock Up 0.7%

Hunting stock opened at GBX 351.50 on Thursday. The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. Hunting has a fifty-two week low of GBX 245 and a fifty-two week high of GBX 377.50. The firm has a fifty day moving average price of GBX 328.58 and a two-hundred day moving average price of GBX 296.60. The firm has a market cap of £546.04 million, a price-to-earnings ratio of -16.58, a P/E/G ratio of 1.06 and a beta of 1.07.

Hunting announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Hunting

In other Hunting news, insider Margaret Amos purchased 3,007 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was purchased at an average price of GBX 332 per share, for a total transaction of £9,983.24. 3.19% of the stock is owned by company insiders.

Hunting Company Profile

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.