Kitwave Group (LON:KITW) Hits New 1-Year Low - What's Next?

Key Points

• Kitwave Group plc saw its share price hit a new 52-week low of GBX 216.15 ($2.88) amid trading, with an updated last trade at GBX 219 ($2.92).
• Canaccord Genuity Group lowered their price target for the stock from GBX 495 to GBX 420, while maintaining a "buy" rating; analysts indicate a consensus target price of GBX 457.50.
• Insider Gerard T. Murray purchased 15,000 shares at an average price of GBX 238, reflecting ongoing confidence as insiders currently own 18.55% of the company's stock.

Kitwave Group plc (LON:KITW - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as GBX 216.15 ($2.88) and last traded at GBX 219 ($2.92), with a volume of 198745 shares traded. The stock had previously closed at GBX 217 ($2.90).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price objective on Kitwave Group from GBX 495 to GBX 420 and set a "buy" rating on the stock in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of GBX 457.50.

Kitwave Group Stock Up 0.9%

The company has a current ratio of 1.02, a quick ratio of 0.65 and a debt-to-equity ratio of 103.83. The company has a market capitalization of £183.38 million, a P/E ratio of 1,057.97 and a beta of 0.78. The stock has a 50 day moving average price of GBX 235.07 and a 200 day moving average price of GBX 268.19.

Kitwave Group (LON:KITW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The company reported GBX 7.90 earnings per share for the quarter. Kitwave Group had a return on equity of 20.87% and a net margin of 2.83%. On average, research analysts anticipate that Kitwave Group plc will post 33.0838323 earnings per share for the current fiscal year.

Insider Transactions at Kitwave Group

In other Kitwave Group news, insider Gerard T. Murray acquired 15,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was acquired at an average price of GBX 238 per share, for a total transaction of £35,700. 18.55% 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.

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