Analysts at Berenberg Bank began coverage on shares of Chemring Group (LON:CHG) in a research note issued to investors on Wednesday, January 10th. The brokerage set a “buy” rating and a GBX 211 ($2.96) price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 11.23% from the stock’s previous close.
A number of other research analysts have also recently issued reports on CHG. Liberum Capital raised their price objective on Chemring Group from GBX 210 ($2.95) to GBX 225 ($3.16) and gave the company a “buy” rating in a research note on Friday, October 6th. Peel Hunt started coverage on Chemring Group in a research note on Tuesday, October 31st. They issued an “add” rating and a GBX 185 ($2.60) target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Chemring Group from GBX 205 ($2.88) to GBX 210 ($2.95) and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Chemring Group has a consensus rating of “Buy” and a consensus target price of GBX 209.83 ($2.95).
Chemring Group (LON CHG) traded down GBX 2.20 ($0.03) during midday trading on Wednesday, reaching GBX 189 ($2.65). The company had a trading volume of 250,252 shares, compared to its average volume of 262,011. Chemring Group has a fifty-two week low of GBX 162 ($2.27) and a fifty-two week high of GBX 208 ($2.92). The company has a market capitalization of $524.19 and a P/E ratio of 18,900.00.
In related news, insider Michael Flowers sold 7,861 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of GBX 192 ($2.70), for a total value of £15,093.12 ($21,195.23).
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Chemring Group Company Profile
Chemring Group PLC is engaged in offering solutions to protect defense and security markets. The Company operates through three segments: Countermeasures, which is engaged in the development and manufacture of expendable countermeasures for air, sea and land platforms, and land-based electronic warfare equipment; Sensors & Electronics, which is engaged in the development and manufacture of improvised explosive device (IED) detection equipment, chemical and biological threat detection equipment, IED electronic countermeasures, network protection technologies and explosive ordnance disposal equipment, and Energetic Systems, which is engaged in the development, procurement and manufacture of signals and illumination devices and payloads, cartridge/propellant actuated devices, pyrotechnic devices for satellite launch and deployment, missile and ammunition components, propellants, warheads, fuses, separation sub-systems, actuators and energetic materials.
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