Hunting (LON:HTG) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Hunting PLC (LON:HTG)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 309.37 and traded as high as GBX 370. Hunting shares last traded at GBX 364, with a volume of 652,917 shares traded.

Wall Street Analyst Weigh In

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

Hunting Trading Up 1.1%

The stock’s 50-day simple moving average is GBX 340.02 and its two-hundred day simple moving average is GBX 309.37. The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. The firm has a market capitalization of £565.47 million, a P/E ratio of -17.36, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07.

Hunting declared that its board has authorized a share repurchase plan on Thursday, August 28th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Hunting news, insider Bruce Ferguson acquired 2,122 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of GBX 348 per share, with a total value of £7,384.56. Also, insider Catherine Krajicek bought 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of GBX 350 per share, with a total value of £63,000. In the last quarter, insiders acquired 23,129 shares of company stock worth $8,036,780. Corporate insiders own 3.22% of the company’s stock.

Hunting Company Profile

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.