Hunting (LON:HTG) Reaches New 12-Month High – Still a Buy?

by · The Cerbat Gem

Hunting PLC (LON:HTG – Get Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as GBX 386.50 and last traded at GBX 373, with a volume of 143776 shares changing hands. The stock had previously closed at GBX 369.61.

Analysts Set New Price Targets

Several research firms have recently commented on HTG. Canaccord Genuity Group reissued a “buy” rating and set a GBX 600 target price on shares of Hunting in a research report on Thursday, October 23rd. 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. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 440 price objective on shares of Hunting in a research note on Tuesday, September 2nd. Jefferies Financial Group raised 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. Finally, Berenberg Bank decreased their price target on Hunting from GBX 465 to GBX 450 and set a “buy” rating for the company in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 498.

View Our Latest Stock Analysis on HTG

Hunting Stock Up 0.8%

The company has a market capitalization of £572.38 million, a P/E ratio of -17.57, a PEG ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 11.64, a quick ratio of 2.08 and a current ratio of 2.69. The stock has a 50 day moving average price of GBX 345.39 and a 200 day moving average price of GBX 314.86.

Hunting announced that its board has initiated a share repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Hunting

In related news, insider Margaret Amos bought 3,007 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were purchased at an average cost of GBX 332 per share, for a total transaction of £9,983.24. Also, insider Catherine Krajicek bought 18,000 shares of Hunting stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of GBX 350 per share, with a total value of £63,000. Insiders have purchased a total of 23,129 shares of company stock worth $8,036,780 over the last three months. 3.22% of the stock is currently owned by insiders.

About Hunting

(Get Free Report)

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.

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