Berenberg Bank Forecasts Strong Price Appreciation for Chemring Group (LON:CHG) Stock

Chemring Group (LON:CHG) had its price objective hoisted by investment analysts at Berenberg Bank from GBX 630 to GBX 670 in a research note issued to investors on Tuesday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s target price suggests a potential upside of 27.86% from the stock’s previous close.

Chemring Group Stock Performance

Shares of CHG traded down GBX 11 during midday trading on Tuesday, hitting GBX 524. 1,052,254 shares of the stock traded hands, compared to its average volume of 2,617,186. The business’s 50 day moving average price is GBX 564.06 and its two-hundred day moving average price is GBX 532.72. The firm has a market capitalization of £1.41 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 27.42, a quick ratio of 0.71 and a current ratio of 1.22. Chemring Group has a 1-year low of GBX 297.50 and a 1-year high of GBX 614.

Insider Activity at Chemring Group

In other news, insider Pete Raby purchased 6,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were bought at an average price of GBX 544 per share, for a total transaction of £32,640. 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.