Hunting’s (HTG) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Hunting (LON:HTG) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 600 price target on the stock.

A number of other research firms have also recently issued reports on HTG. Berenberg Bank reiterated a “buy” rating and issued a GBX 465 target price on shares of Hunting in a research note on Thursday, August 28th. Jefferies Financial Group lifted their price objective on shares of Hunting from GBX 350 to GBX 400 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 440 target price on shares of Hunting in a research note on Tuesday, September 2nd. Finally, Collins Stewart restated a “buy” rating and issued a GBX 600 price target on shares of Hunting in a research note on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 498.

Hunting Trading Up 0.7%

Shares of LON HTG opened at GBX 351.50 on Thursday. Hunting has a 12-month low of GBX 245 and a 12-month high of GBX 377.50. The company has a market cap of £546.04 million, a price-to-earnings ratio of -16.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07. The company has a current ratio of 2.69, a quick ratio of 2.08 and a debt-to-equity ratio of 11.64. The stock’s 50 day simple moving average is GBX 328.58 and its 200 day simple moving average is GBX 296.60.

Hunting announced that its board has authorized a stock repurchase program on Thursday, August 28th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Margaret Amos purchased 3,007 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were bought at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Insiders own 3.19% of the company’s stock.

About Hunting

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.