Key Points
- Insider buying: QinetiQ Group insider Steve Wadey bought 36 shares on May 11 at GBX 415 each, following smaller purchases in April and March. The buys totaled only a modest amount, but they add to a pattern of recent insider accumulation.
- Stock performance: QinetiQ shares were trading around GBX 415.20, down 1.4% on the day. The stock remains below its 50-day and 200-day moving averages and is near the lower end of its 52-week range.
- Analyst outlook: Wall Street sentiment is mixed but leans positive, with a consensus rating of Moderate Buy and an average price target of GBX 578.33. Deutsche Bank and Berenberg both maintain buy ratings, with Deutsche Bank recently raising its target to GBX 635.
QinetiQ Group plc (LON:QQ - Get Free Report) insider Steve Wadey bought 36 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of GBX 415 per share, with a total value of £149.40.
Steve Wadey also recently made the following trade(s):
- On Thursday, April 9th, Steve Wadey bought 31 shares of QinetiQ Group stock. The stock was purchased at an average price of GBX 486 per share, with a total value of £150.66.
- On Monday, March 9th, Steve Wadey bought 30 shares of QinetiQ Group stock. The stock was purchased at an average price of GBX 511 per share, with a total value of £153.30.
QinetiQ Group Trading Down 1.4%
Shares of QQ opened at GBX 415.20 on Wednesday. The firm has a market cap of £2.29 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.47 and a beta of 0.31. The stock has a 50 day moving average of GBX 475.57 and a 200-day moving average of GBX 470.76. QinetiQ Group plc has a 52 week low of GBX 292.20 and a 52 week high of GBX 491.
QinetiQ Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 25th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently commented on QQ shares. Deutsche Bank Aktiengesellschaft lifted their target price on QinetiQ Group from GBX 585 to GBX 635 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Berenberg Bank reiterated a "buy" rating and issued a GBX 550 target price on shares of QinetiQ Group in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 578.33.
Read Our Latest Stock Analysis on QQ
About QinetiQ Group
(
Get Free Report)
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.
Further Reading
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