Key Points
- Insider purchase: Director Stuart Brightman bought 20,000 Hunting shares on Dec. 12 at GBX 388 each, a transaction valued at £77,600.
- Share buyback authorized: The board approved a $40 million repurchase program (up to about 6.1% of shares), signalling management believes the stock may be undervalued.
- Analyst sentiment and upside: Five analysts rate Hunting as a "Buy" with a consensus target of GBX 498 versus the current ~GBX 390, implying notable upside.
Hunting PLC (LON:HTG - Get Free Report) insider Stuart Brightman purchased 20,000 shares of the stock in a transaction on Friday, December 12th. The stock was acquired at an average price of GBX 388 per share, with a total value of £77,600.
Hunting Price Performance
Shares of Hunting stock opened at GBX 390.50 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.08 and a debt-to-equity ratio of 11.64. Hunting PLC has a twelve month low of GBX 245 and a twelve month high of GBX 400. The business's fifty day moving average price is GBX 356.07 and its 200 day moving average price is GBX 324.62. The stock has a market capitalization of £591.73 million, a P/E ratio of -18.42, a PEG ratio of 1.06 and a beta of 1.07.
Hunting announced that its Board of Directors has authorized a share repurchase program on Thursday, August 28th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
HTG has been the subject of several recent research reports. Jefferies Financial Group increased their price objective 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 440 price objective on shares of Hunting in a report on Tuesday, September 2nd. Berenberg Bank reduced their price target on Hunting from GBX 465 to GBX 450 and set a "buy" rating for the company in a research report on Thursday, October 23rd. Collins Stewart reissued a "buy" rating and set a GBX 600 target price on shares of Hunting in a report on Thursday, August 28th. Finally, Canaccord Genuity Group restated a "buy" rating and set a GBX 600 target price on shares of Hunting in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hunting presently has an average rating of "Buy" and a consensus target price of GBX 498.
Get Our Latest Report on Hunting
Hunting Company Profile
(
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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