Canaccord Genuity Group Reiterates Buy Rating for Smiths News (LON:SNWS)

Smiths News (LON:SNWS)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Thursday,London Stock Exchange reports. They presently have a GBX 95 ($1.16) price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 56.77% from the company’s current price.

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 95 ($1.16) price target on shares of Smiths News in a report on Tuesday, November 5th.

Smiths News Stock Performance

LON:SNWS traded up GBX 1 ($0.01) during trading hours on Thursday, hitting GBX 60.60 ($0.74). The company’s stock had a trading volume of 408,530 shares, compared to its average volume of 1,103,063. Smiths News has a 52-week low of GBX 45.20 ($0.55) and a 52-week high of GBX 71 ($0.87). The business’s 50-day moving average is GBX 62.96 and its two-hundred day moving average is GBX 59.79. The company has a market capitalization of £143.68 million, a PE ratio of 673.33, a PEG ratio of 0.29 and a beta of 0.83.

Insiders Place Their Bets

In other news, insider Jonathan Bunting sold 490,569 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of GBX 61 ($0.75), for a total value of £299,247.09 ($366,275.51). Also, insider Deborah Rabey acquired 20,663 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were acquired at an average cost of GBX 63 ($0.77) per share, with a total value of £13,017.69 ($15,933.53). Over the last ninety days, insiders have sold 1,993,578 shares of company stock worth $121,608,258. 13.12% of the stock is owned by corporate insiders.

Smiths News Company Profile

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains.