Hunting (LON:HTG) Shares Down 14.5% After Analyst Downgrade

Hunting PLC (LON:HTG)’s stock price fell 14.5% during mid-day trading on Friday after Berenberg Bank lowered their price target on the stock from GBX 580 to GBX 550. Berenberg Bank currently has a buy rating on the stock. Hunting traded as low as GBX 380 and last traded at GBX 405. Approximately 2,385,453 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 3,475,459 shares. The stock had previously closed at GBX 473.50.

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 600 price objective on shares of Hunting in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Hunting currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 530.

Hunting Trading Down 14.5%

The company has a debt-to-equity ratio of 13.38, a current ratio of 2.97 and a quick ratio of 2.08. The business’s 50 day simple moving average is GBX 459.45 and its 200 day simple moving average is GBX 480.15. The company has a market capitalization of £589.94 million, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67.

Hunting Company Profile

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.