QinetiQ Group (LON:QQ) to Repurchase 0 Stock

QinetiQ Group (LON:QQ) declared that its board has initiated a share repurchase plan on Wednesday, March 25th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

QinetiQ Group Stock Down 1.9%

LON:QQ traded down GBX 9 during mid-day trading on Wednesday, reaching GBX 467.40. 911,487 shares of the company were exchanged, compared to its average volume of 88,555. QinetiQ Group has a 12 month low of GBX 292.20 and a 12 month high of GBX 491. The company has a fifty day moving average of GBX 502.63 and a 200 day moving average of GBX 480.85. The stock has a market cap of £2.58 billion, a PE ratio of 19.35, a PEG ratio of 1.47 and a beta of 0.27.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QQ. Deutsche Bank Aktiengesellschaft boosted their target price on QinetiQ Group from GBX 585 to GBX 635 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Berenberg Bank reiterated a “buy” rating and issued a GBX 550 price objective on shares of QinetiQ Group in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, QinetiQ Group presently has an average rating of “Moderate Buy” and an average target price of GBX 578.33.

QinetiQ Group Company Profile

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.