Kitwave Group’s (KITW) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Kitwave Group (LON:KITW)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday, MarketBeat reports. They currently have a GBX 495 ($6.56) price objective on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 67.23% from the company’s current price.

Kitwave Group Price Performance

Kitwave Group stock opened at GBX 296 ($3.92) on Wednesday. The business’s 50-day simple moving average is GBX 267.04 and its 200 day simple moving average is GBX 294.29. The company has a quick ratio of 0.65, a current ratio of 1.02 and a debt-to-equity ratio of 103.83. The stock has a market cap of £237.27 million, a price-to-earnings ratio of 12.29 and a beta of 0.78. Kitwave Group has a 12-month low of GBX 236.28 ($3.13) and a 12-month high of GBX 392.50 ($5.20).

Kitwave Group (LON:KITW) last issued its earnings results on Tuesday, March 4th. The company reported GBX 23.50 ($0.31) earnings per share (EPS) for the quarter. Kitwave Group had a net margin of 2.83% and a return on equity of 20.87%. As a group, research analysts anticipate that Kitwave Group will post 33.0838323 earnings per share for the current year.

Insider Activity

In other news, insider Ben Maxted bought 20,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of GBX 258 ($3.42) per share, for a total transaction of £51,600 ($68,362.48). 14.99% of the stock is currently owned by company insiders.

About Kitwave Group

Kitwave Group plc is a delivered wholesale business with over 2,100 employees and a network of 37 depots able to support delivery throughout the UK, specialising in selling impulse products (such as confectionery, soft drinks, snacks, ice cream), frozen and chilled foods, alcohol, groceries and tobacco to over 46,000, mainly independent, customers.