Hunting (LON:HTG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Hunting PLC (LON:HTG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 427.36 and traded as high as GBX 511. Hunting shares last traded at GBX 507, with a volume of 7,722,488 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HTG. Canaccord Genuity Group restated a “buy” rating and set a GBX 600 price target on shares of Hunting in a research note on Wednesday, April 15th. Royal Bank Of Canada boosted their price target on Hunting from GBX 440 to GBX 500 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Berenberg Bank boosted their price target on Hunting from GBX 450 to GBX 580 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 400 price target on shares of Hunting in a research note on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 536.

Hunting Stock Down 0.2%

The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08. The stock has a market capitalization of £743.40 million, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.72. The firm has a 50 day moving average of GBX 497.02 and a 200-day moving average of GBX 427.36.

Hunting declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 5th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Hunting

In related news, insider Bruce Ferguson sold 66,154 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of GBX 507, for a total transaction of £335,400.78. 3.40% of the stock is owned by corporate insiders.

About Hunting

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.