Chemring Group (LON:CHG) Price Target Raised to GBX 660

Chemring Group (LON:CHG) had its target price upped by Jefferies Financial Group from GBX 640 to GBX 660 in a note issued to investors on Monday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 25.95% from the company’s previous close.

Several other research analysts have also commented on the company. Berenberg Bank raised their price target on Chemring Group from GBX 630 to GBX 670 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 600 target price on shares of Chemring Group in a research note on Monday, November 17th. Finally, Panmure Gordon boosted their price target on shares of Chemring Group from GBX 480 to GBX 537 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 616.75.

Chemring Group Price Performance

Shares of LON:CHG remained flat at GBX 524 during midday trading on Monday. The company had a trading volume of 11,791,481 shares, compared to its average volume of 2,244,473. The company has a market capitalization of £1.41 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. Chemring Group has a 1 year low of GBX 297.50 and a 1 year high of GBX 614. The stock has a fifty day moving average price of GBX 493.45 and a 200 day moving average price of GBX 532.62. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 27.42.

Chemring Group (LON:CHG) last announced its earnings results on Tuesday, December 9th. The company reported GBX 19.70 earnings per share for the quarter. Chemring Group had a net margin of 0.64% and a return on equity of 0.88%. Equities research analysts predict that Chemring Group will post 24.8815166 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pete Raby acquired 6,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were bought at an average price of GBX 468 per share, with a total value of £28,080. Also, insider Michael Ord sold 100,249 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of GBX 481, for a total transaction of £482,197.69. In the last quarter, insiders have sold 297,888 shares of company stock worth $145,648,723. Insiders own 1.17% of the company’s stock.

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.