Insider Buying: QinetiQ Group (LON:QQ) Insider Acquires 36 Shares of Stock

QinetiQ Group plc (LON:QQ) insider Steve Wadey acquired 36 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost 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 acquired 31 shares of QinetiQ Group stock. The shares were bought at an average cost of GBX 486 per share, with a total value of £150.66.
• On Monday, March 9th, Steve Wadey acquired 30 shares of QinetiQ Group stock. The shares were bought at an average cost of GBX 511 per share, with a total value of £153.30.

QinetiQ Group Price Performance

Shares of LON:QQ traded down GBX 6.10 during mid-day trading on Tuesday, reaching GBX 415.20. 2,708,803 shares of the company were exchanged, compared to its average volume of 88,555. The firm has a market cap of £2.29 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.47 and a beta of 0.31. The firm’s 50-day simple moving average is GBX 477.27 and its 200 day simple moving average is GBX 471.21. QinetiQ Group plc has a 1 year low of GBX 292.20 and a 1 year high of GBX 491.

QinetiQ Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 25th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of QinetiQ Group from GBX 585 to GBX 635 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Berenberg Bank reissued a “buy” rating and issued a GBX 550 price target 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 578.33.

About QinetiQ Group

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.