Hunting (LON:HTG) Sets New 52-Week Low - Time to Sell?

Hunting PLC (LON:HTG - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as GBX 247 ($3.26) and last traded at GBX 254.50 ($3.36), with a volume of 808070 shares trading hands. The stock had previously closed at GBX 274 ($3.61).

Analysts Set New Price Targets

A number of research firms have weighed in on HTG. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 600 ($7.91) target price on shares of Hunting in a research note on Thursday, March 6th. Berenberg Bank increased their price objective on shares of Hunting from GBX 480 ($6.33) to GBX 490 ($6.46) and gave the company a "buy" rating in a research note on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 520 ($6.86).

Hunting Stock Performance

The company has a market capitalization of £533.13 million, a PE ratio of 4.33, a PEG ratio of 1.06 and a beta of 1.07. The company has a quick ratio of 2.08, a current ratio of 2.69 and a debt-to-equity ratio of 11.64. The business has a 50 day simple moving average of GBX 300.55 and a 200 day simple moving average of GBX 315.89.

Hunting Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 9th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.06 per share. This represents a yield of 1.57%. The ex-dividend date is Thursday, April 10th. This is an increase from Hunting's previous dividend of $0.06. Hunting's payout ratio is currently 13.34%.

Insider Activity at Hunting

In other news, insider Arthur James Johnson sold 470,771 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of GBX 295 ($3.89), for a total value of £1,388,774.45 ($1,831,189.94). 18.20% of the stock is owned by insiders.

About Hunting

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.