Hunting (LON:HTG) Shares Down 14.5% After Analyst Downgrade

Hunting PLC (LON:HTG) shares dropped 14.5% on Friday after Berenberg Bank lowered their price target on the stock from GBX 580 to GBX 550. Berenberg Bank currently has a buy rating on the stock. Hunting traded as low as GBX 380 and last traded at GBX 405. Approximately 2,385,453 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 3,475,459 shares. The stock had previously closed at GBX 473.50.

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 600 price target on shares of Hunting in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 530.

Hunting Trading Down 14.5%

The firm has a market capitalization of £589.94 million, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. 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 company has a fifty day moving average of GBX 459.45 and a 200-day moving average of GBX 480.15.

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.