Kits Eyecare (TSE:KITS) Given a C$23.00 Price Target by Desjardins Analysts

Key Points

• Desjardins set a C$23.00 price target for Kits Eyecare and maintained a “buy” rating, implying 36.58% potential upside from the stock’s C$16.84 price.
• Analyst sentiment remains positive, with all four covering analysts rating the stock Buy; the consensus target is C$20.69, despite several recent target-price reductions.
• Kits Eyecare reported quarterly EPS of C$0.04 and revenue of C$58.43 million. Separately, insider Joseph Thompson sold 75,000 shares for approximately C$1.02 million, reducing his stake by 7.25%.

Kits Eyecare (TSE:KITS - Get Free Report) received a C$23.00 target price from investment analysts at Desjardins in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' target price indicates a potential upside of 36.58% from the stock's current price.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus decreased their price objective on Kits Eyecare from C$24.00 to C$21.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Canaccord Genuity Group reduced their target price on shares of Kits Eyecare from C$23.00 to C$22.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Finally, ATB Cormark Capital Markets decreased their target price on shares of Kits Eyecare from C$20.00 to C$16.75 and set a "speculative buy" rating on the stock in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$20.69.

Kits Eyecare Stock Up 1.5%

Shares of KITS traded up C$0.25 on Monday, reaching C$16.84. The company's stock had a trading volume of 54,364 shares, compared to its average volume of 114,623. The stock has a market capitalization of C$572.66 million, a PE ratio of 105.25 and a beta of 0.06. The company's 50 day moving average price is C$14.05. Kits Eyecare has a 12-month low of C$10.61 and a 12-month high of C$22.56.

Kits Eyecare (TSE:KITS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$0.04 EPS for the quarter. The company had revenue of C$58.43 million during the quarter.

Insider Activity at Kits Eyecare

In other news, insider Joseph Thompson sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$13.65, for a total transaction of C$1,023,750.00. Following the completion of the transaction, the insider owned 960,114 shares in the company, valued at C$13,105,556.10. This trade represents a 7.25% decrease in their ownership of the stock.

About Kits Eyecare

KITS TSX: KITS is one of the world's fastest growing eyecare providers, offering high-quality, affordable prescription glasses and contact lenses through its vertically integrated digital platform. With advanced in-house lens manufacturing, an industry-leading digital fit experience powered by OpticianAI, and thousands of 5-star customer reviews, KITS is redefining how Canadians experience eyecare. Designed in Canada. Delivered worldwide.

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