Hunting (LON:HTG) Reaches New 12-Month High - Still a Buy?

Hunting PLC (LON:HTG - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 386.50 and last traded at GBX 373, with a volume of 143776 shares changing hands. The stock had previously closed at GBX 369.61.Wall Street Analysts Forecast GrowthSeveral analysts recently issued reports on the company. Canaccord Genuity Group restated a "buy" rating and set a GBX 600 target price on shares of Hunting in a report on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 440 target price on shares of Hunting in a report on Tuesday, September 2nd. Collins Stewart reiterated a "buy" rating and set a GBX 600 price target on shares of Hunting in a report on Thursday, August 28th. Jefferies Financial Group upped their price objective on Hunting from GBX 350 to GBX 400 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Finally, Berenberg Bank reduced their target price on Hunting from GBX 465 to GBX 450 and set a "buy" rating for the company in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 498.Read Our Latest Stock Analysis on HuntingHunting Stock PerformanceThe company has a debt-to-equity ratio of 11.64, a current ratio of 2.69 and a quick ratio of 2.08. The company has a market capitalization of £572.38 million, a P/E ratio of -17.57, a PEG ratio of 1.06 and a beta of 1.07. The company has a fifty day moving average price of GBX 345.39 and a two-hundred day moving average price of GBX 314.86. Hunting declared that its Board of Directors has initiated a share buyback program on Thursday, August 28th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued. Insider ActivityIn other news, insider Margaret Amos bought 3,007 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were acquired at an average price of GBX 332 per share, for a total transaction of £9,983.24. Also, insider Bruce Ferguson purchased 2,122 shares of the firm's stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of GBX 348 per share, with a total value of £7,384.56. In the last three months, insiders have bought 23,129 shares of company stock valued at $8,036,780. 3.22% of the stock is currently owned by insiders. Hunting Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than HuntingStock Trading Terms - Stock Terms Every Investor Needs to KnowWorried About Inflation? These 3 ETFs Offer Real ProtectionHow to buy stock: A step-by-step guide for beginners Intel’s Black Friday Breakout: Apple Rumors Fuel a Holiday RallyDo Real Estate Investment Trusts Deserve a Place in Your Portfolio?Klarna's Crypto Play: A Plan to Fix Its Profit ProblemThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Hunting Right Now?Before you consider Hunting, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hunting wasn't on the list.While Hunting currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here