QinetiQ Group (LON:QQ) Stock Passes Above 200 Day Moving Average – Here’s Why

QinetiQ Group plc (LON:QQ)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 477.14 and traded as high as GBX 490.90. QinetiQ Group shares last traded at GBX 480.10, with a volume of 1,100,579 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QQ shares. Deutsche Bank Aktiengesellschaft upped their price target on QinetiQ Group from GBX 585 to GBX 635 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Berenberg Bank reiterated a “buy” rating and set a GBX 550 price target on shares of QinetiQ Group in a report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 578.33.

QinetiQ Group Stock Performance

The stock has a market cap of £2.67 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.47 and a beta of 0.35. The business has a 50 day simple moving average of GBX 490.69 and a 200-day simple moving average of GBX 476.70.

QinetiQ Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 25th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

QinetiQ Group Company Profile

QinetiQ Group plc operates as a science and engineering company in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally. The company operates through EMEA Services and Global Solutions segments. It offers advanced materials and manufacturing products; artificial intelligence, analytics, and advanced computing technologies; cyber and electromagnetic technologies; human protection and performance systems; novel systems, and weapons and effects; platform, and system design and assessment products; power sources, and energy storage and distribution products; robotics and autonomy services; secure communications and navigation systems; and sensing, processing, and data fusion systems.