Canaccord Genuity Group Issues Pessimistic Forecast for Kitwave Group (LON:KITW) Stock Price

Kitwave Group (LON:KITW - Get Free Report) had its price objective reduced by equities researchers at Canaccord Genuity Group from GBX 495 ($6.76) to GBX 420 ($5.74) in a research report issued on Tuesday, MarketBeat reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 73.55% from the stock's previous close.

Kitwave Group Stock Performance

Shares of LON:KITW traded down GBX 4 ($0.05) on Tuesday, hitting GBX 242 ($3.30). The company had a trading volume of 1,529,619 shares, compared to its average volume of 326,029. The stock has a market cap of £193.98 million, a price-to-earnings ratio of 10.05 and a beta of 0.78. The stock has a 50 day moving average price of GBX 311.87 and a 200 day moving average price of GBX 291.91. Kitwave Group has a 1-year low of GBX 230 ($3.14) and a 1-year high of GBX 355 ($4.85). The company has a current ratio of 1.02, a quick ratio of 0.65 and a debt-to-equity ratio of 103.83.

Kitwave Group (LON:KITW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The company reported GBX 7.90 ($0.11) EPS for the quarter. Kitwave Group had a net margin of 2.83% and a return on equity of 20.87%. Analysts expect that Kitwave Group will post 33.0838323 EPS for the current year.

Kitwave Group Company Profile

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.