Chemring Group (LON:CHG) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Chemring Group PLC (LON:CHG) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 356.45 ($4.61) and traded as high as GBX 387 ($5.01). Chemring Group shares last traded at GBX 373.56 ($4.84), with a volume of 1,554,981 shares changing hands.

Wall Street Analysts Forecast Growth

CHG has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 470 ($6.08) price target on shares of Chemring Group in a research note on Tuesday, December 17th. Shore Capital reaffirmed a “buy” rating on shares of Chemring Group in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 429.50 ($5.56).

Chemring Group Price Performance

The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The company has a fifty day moving average of GBX 357.31 and a 200-day moving average of GBX 356.22. The firm has a market cap of £1.00 billion, a P/E ratio of 457.37, a P/E/G ratio of 1.99 and a beta of 0.68.

Chemring Group Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 20th will be issued a dividend of GBX 5.20 ($0.07) per share. The ex-dividend date is Thursday, March 20th. This is a boost from Chemring Group’s previous dividend of $2.60. This represents a yield of 1.44%. Chemring Group’s payout ratio is 857.06%.

Insiders Place Their Bets

In other news, insider Sarah Ellard sold 27,445 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of GBX 415 ($5.37), for a total transaction of £113,896.75 ($147,420.08). Insiders own 1.69% 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.