Chemring Group (CHG) Sets New 12-Month High at $214.50

Shares of Chemring Group plc (LON:CHG) hit a new 52-week high on Thursday . The stock traded as high as GBX 214.50 ($3.03) and last traded at GBX 213.50 ($3.02), with a volume of 64359 shares. The stock had previously closed at GBX 212.50 ($3.00).

Several analysts have recently weighed in on the stock. Peel Hunt restated an “add” rating and set a GBX 201 ($2.84) price objective (down previously from GBX 210 ($2.97)) on shares of Chemring Group in a research report on Monday. Liberum Capital restated a “buy” rating and set a GBX 225 ($3.18) price objective on shares of Chemring Group in a research report on Tuesday, March 20th. Berenberg Bank boosted their price objective on shares of Chemring Group from GBX 211 ($2.98) to GBX 228 ($3.22) and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase reduced their price objective on shares of Chemring Group from GBX 210 ($2.97) to GBX 205 ($2.90) and set a “neutral” rating for the company in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Chemring Group currently has an average rating of “Buy” and an average price target of GBX 212.50 ($3.00).

The firm also recently announced a dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, April 5th will be issued a GBX 2 ($0.03) dividend. This represents a dividend yield of 1.02%. This is a boost from Chemring Group’s previous dividend of $1.00. The ex-dividend date of this dividend is Thursday, April 5th.

In other news, insider Michael Flowers sold 7,861 shares of Chemring Group stock in a transaction on Monday, January 29th. The shares were sold at an average price of GBX 192 ($2.71), for a total value of £15,093.12 ($21,333.03).

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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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