Hunting (LON:HTG) Insider Acquires £7,384.56 in Stock

Hunting PLC (LON:HTG) insider Bruce Ferguson bought 2,122 shares of the stock in a transaction on Monday, November 3rd. The shares were bought at an average price of GBX 348 per share, for a total transaction of £7,384.56.

Hunting Stock Performance

Shares of HTG stock opened at GBX 356.50 on Friday. 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 company has a 50 day moving average price of GBX 334.62 and a 200-day moving average price of GBX 302.52. Hunting PLC has a 52 week low of GBX 245 and a 52 week high of GBX 377.50. The firm has a market capitalization of £547.79 million, a PE ratio of -16.82, a P/E/G ratio of 1.06 and a beta of 1.07.

Hunting announced that its board has approved a share repurchase program on Thursday, August 28th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Berenberg Bank decreased their target price on shares of Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Collins Stewart reiterated a “buy” rating and set a GBX 600 price objective on shares of Hunting in a research report on Thursday, August 28th. Jefferies Financial Group increased their target price on Hunting from GBX 350 to GBX 400 and gave the company a “buy” rating in a report on Tuesday, September 30th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 440 price target on shares of Hunting in a research note on Tuesday, September 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 600 price target on shares of Hunting in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 498.

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.