Hunting (LON:HTG) Price Target Lowered to GBX 460 at Berenberg Bank

Hunting (LON:HTG) had its price target cut by Berenberg Bank from GBX 520 ($6.75) to GBX 460 ($5.97) in a report published on Tuesday morning, Digital Look reports. They currently have a buy rating on the stock.

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 600 ($7.79) price target on shares of Hunting in a report on Thursday, August 29th.

Hunting Price Performance

Hunting stock traded down GBX 5 ($0.06) during midday trading on Tuesday, reaching GBX 306.50 ($3.98). 1,188,432 shares of the company were exchanged, compared to its average volume of 530,173. The firm’s 50-day simple moving average is GBX 402.17 and its 200-day simple moving average is GBX 401.03. Hunting has a 1 year low of GBX 247 ($3.21) and a 1 year high of GBX 465.37 ($6.04). The company has a market capitalization of £485.34 million, a price-to-earnings ratio of 510.83, a P/E/G ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 11.60, a quick ratio of 2.08 and a current ratio of 2.69.

Hunting Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, October 3rd will be paid a $0.06 dividend. This represents a yield of 0.97%. This is a positive change from Hunting’s previous dividend of $0.05. The ex-dividend date of this dividend is Thursday, October 3rd. Hunting’s dividend payout ratio (DPR) is presently 1,333.33%.

About Hunting

Hunting PLC, together with its subsidiaries, manufactures components, technology systems, and precision parts worldwide. It operates in five segments: Hunting Titan; North America; Subsea Technologies; EMEA; and Asia Pacific. The company designs and manufactures perforating systems, energetics, instrumentation, and associated hardware; connection technology and OCTG; subsea technologies; supplies highly engineered tubular components, hollow rotating shafts, very accurate deep hole drilling, plus complex turned, and milled profiles; well intervention equipment; and well test and process systems.