Hunting (LON:HTG) Hits New 1-Year High – Should You Buy?

Hunting PLC (LON:HTG)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 373 and last traded at GBX 357, with a volume of 18372693 shares trading hands. The stock had previously closed at GBX 363.

Analyst Ratings Changes

HTG has been the subject of several research reports. Berenberg Bank dropped their target price on Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Jefferies Financial Group increased their target price 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. Collins Stewart reiterated a “buy” rating and set a GBX 600 price target on shares of Hunting in a research note on Thursday, August 28th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 600 target price on shares of Hunting in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 440 price objective on shares of Hunting in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 498.

Hunting Price Performance

The stock has a market cap of £548.56 million, a PE ratio of -16.84, a P/E/G ratio of 1.06 and a beta of 1.07. The business has a fifty day moving average of GBX 336.37 and a 200 day moving average of GBX 305.33. The company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08.

Hunting declared that its board has initiated a share buyback plan on Thursday, August 28th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Hunting

In related news, insider Catherine Krajicek acquired 18,000 shares of Hunting stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of GBX 350 per share, with a total value of £63,000. Also, insider Bruce Ferguson purchased 2,122 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of GBX 348 per share, for a total transaction of £7,384.56. Insiders have acquired a total of 23,129 shares of company stock worth $8,036,780 in the last three months. 3.22% of the stock is owned by company insiders.

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.