Hunting PLC (LON:HTG – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 290.65 ($3.88) and traded as high as GBX 336.50 ($4.49). Hunting shares last traded at GBX 335.50 ($4.48), with a volume of 246,611 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a GBX 440 price objective on shares of Hunting in a report on Tuesday, September 2nd. Canaccord Genuity Group restated a “buy” rating and set a GBX 600 price objective on shares of Hunting in a report on Wednesday, July 9th. Collins Stewart restated a “buy” rating and set a GBX 600 price objective on shares of Hunting in a report on Thursday, August 28th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 465 price objective on shares of Hunting in a report on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hunting presently has a consensus rating of “Buy” and a consensus price target of GBX 526.25.
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Hunting Trading Up 0.7%
The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64. The firm has a market capitalization of £531.81 million, a P/E ratio of -1,593.47, a PEG ratio of 1.06 and a beta of 1.07. The firm has a 50 day moving average of GBX 318.43 and a 200-day moving average of GBX 290.65.
Hunting announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 28th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Insider Activity
In related news, insider Margaret Amos purchased 3,007 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was acquired at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Company insiders own 3.14% of the company’s stock.
Hunting Company Profile
(Get Free Report)
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.
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