Smiths News (LON:SNWS) Earns “Buy” Rating from Canaccord Genuity Group

Smiths News (LON:SNWS)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a research note issued on Thursday, Marketbeat.com reports. They currently have a GBX 95 ($1.16) price objective on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 57.28% from the stock’s previous close.

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

Smiths News Stock Performance

SNWS opened at GBX 60.40 ($0.73) on Thursday. The company has a market cap of £143.20 million, a P/E ratio of 671.11, a PEG ratio of 0.29 and a beta of 0.83. Smiths News has a one year low of GBX 45.98 ($0.56) and a one year high of GBX 71 ($0.86). The business’s 50-day simple moving average is GBX 62.96 and its 200-day simple moving average is GBX 59.79.

Insider Activity

In related news, insider Deborah Rabey purchased 20,663 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average price of GBX 63 ($0.77) per share, with a total value of £13,017.69 ($15,838.53). Also, insider Jonathan Bunting sold 1,183,423 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of GBX 61 ($0.74), for a total value of £721,888.03 ($878,316.13). Over the last ninety days, insiders sold 1,993,578 shares of company stock valued at $121,608,258. 13.12% of the stock is currently owned by company insiders.

About Smiths News

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.