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

Smiths News (LON:SNWS)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a report issued on Thursday,London Stock Exchange reports. They presently have a GBX 95 ($1.16) target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 56.77% from the stock’s current price.

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

Smiths News Stock Up 1.7 %

Shares of SNWS stock traded up GBX 1 ($0.01) on Thursday, reaching GBX 60.60 ($0.74). 408,530 shares of the stock were exchanged, compared to its average volume of 1,103,063. The firm has a 50 day moving average of GBX 62.96 and a two-hundred day moving average of GBX 59.79. The stock has a market cap of £143.68 million, a P/E ratio of 673.33, a price-to-earnings-growth ratio of 0.29 and a beta of 0.83. Smiths News has a 1-year low of GBX 45.20 ($0.55) and a 1-year high of GBX 71 ($0.87).

Insider Buying and Selling

In other news, insider Jonathan Bunting sold 1,183,423 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of GBX 61 ($0.75), for a total transaction of £721,888.03 ($883,583.88). Also, insider Paul Baker sold 319,586 shares of Smiths News stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of GBX 61 ($0.75), for a total transaction of £194,947.46 ($238,613.78). Insiders have sold 1,993,578 shares of company stock valued at $121,608,258 in the last quarter. Company insiders own 13.12% of the company’s stock.

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.