JPMorgan Chase & Co. Lowers WH Smith (LON:SMWH) Price Target to GBX 550

Key Points

• JPMorgan lowered WH Smith’s price target from GBX 575 to GBX 550 while maintaining an “overweight” rating, implying approximately 49.9% upside from the current share price.
• Analyst views remain mixed: WH Smith has an overall “Hold” consensus rating and an average price target of GBX 566.43, with targets ranging from GBX 390 to GBX 600 among recently reporting firms.
• WH Smith shares opened at GBX 367, near their one-year low of GBX 345.60, while insiders recently purchased shares; corporate insiders own 1.05% of the company.

WH Smith (LON:SMWH - Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from GBX 575 to GBX 550 in a research note issued on Thursday, Digital Look reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 49.86% from the stock's current price.

Several other research firms also recently issued reports on SMWH. Berenberg Bank upped their price objective on WH Smith from GBX 420 to GBX 440 and gave the company a "hold" rating in a research note on Thursday. Canaccord Genuity Group reduced their price target on WH Smith from GBX 680 to GBX 555 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. UBS Group reissued a "neutral" rating and issued a GBX 600 price target on shares of WH Smith in a research note on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on WH Smith from GBX 550 to GBX 390 and set a "hold" rating for the company in a research report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of GBX 566.43.

WH Smith Trading Up 0.7%

Shares of WH Smith stock opened at GBX 367 on Thursday. The firm's 50 day moving average is GBX 411.93 and its 200 day moving average is GBX 481.10. The firm has a market capitalization of £552.34 million, a PE ratio of -3.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.93. The company has a current ratio of 0.33, a quick ratio of 0.42 and a debt-to-equity ratio of 846.40. WH Smith has a 1 year low of GBX 345.60 and a 1 year high of GBX 712.

Insider Buying and Selling at WH Smith

In other news, insider Simon Emeny bought 5,000 shares of the company's stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average price of GBX 398 per share, for a total transaction of £19,900. Also, insider Helen Rose purchased 11,102 shares of the business's stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of GBX 450 per share, for a total transaction of £49,959. Corporate insiders own 1.05% of the company's stock.

About WH Smith

WH Smith PLC operates as a retailer in the United Kingdom and internationally. It operates in two segments, Travel and High Street. The Travel segment offers news, books, and convenience for travelling customers. It operates stores in airports, hospitals, railway stations, and motorway service areas. The High Street segment sells stationery products, including greeting cards, general stationery, art and craft, and gifting products; news and impulse products, such as newspapers, magazines, confectionery, and drinks; and books.

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