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

Smiths News (LON:SNWS)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,London Stock Exchange reports. They currently have a GBX 95 price objective on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 44.38% from the stock’s previous close.

Separately, Berenberg Bank upped their target price on shares of Smiths News from GBX 75 to GBX 80 and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 90.

Smiths News Trading Up 4.1%

Shares of LON SNWS traded up GBX 2.60 during midday trading on Tuesday, reaching GBX 65.80. 2,145,905 shares of the stock were exchanged, compared to its average volume of 377,414. The business has a 50-day simple moving average of GBX 59.39 and a two-hundred day simple moving average of GBX 57.84. The company has a market capitalization of £157.70 million, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.29 and a beta of 0.83. Smiths News has a 12 month low of GBX 45.40 and a 12 month high of GBX 71. The company has a debt-to-equity ratio of -1,469.70, a current ratio of 0.98 and a quick ratio of 0.83.

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.