Kitwave Group (LON:KITW) Reaches New 52-Week Low - What's Next?

Key Points

• Kitwave Group has reached a new 52-week low, trading at GBX 230 ($3.09), down from a previous close of GBX 238.47 ($3.21).
• Analysts at Canaccord Genuity Group reduced their price target for the company from GBX 495 ($6.66) to GBX 420 ($5.65) while maintaining a "buy" rating.
• Insider Gerard T. Murray purchased 15,000 shares at GBX 238 ($3.20) each, indicating confidence in the company's performance as insiders currently own 14.99% of the stock.

Kitwave Group plc (LON:KITW - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as GBX 229 ($3.08) and last traded at GBX 230 ($3.09), with a volume of 412651 shares traded. The stock had previously closed at GBX 238.47 ($3.21).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price objective on Kitwave Group from GBX 495 ($6.66) to GBX 420 ($5.65) and set a "buy" rating for the company in a report on Tuesday, July 1st.

Kitwave Group Price Performance

The company has a debt-to-equity ratio of 103.83, a current ratio of 1.02 and a quick ratio of 0.65. The company has a fifty day moving average price of GBX 277.74 and a 200 day moving average price of GBX 280.32. The company has a market capitalization of £184.36 million, a P/E ratio of 9.55 and a beta of 0.78.

Kitwave Group (LON:KITW - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The company reported GBX 7.90 ($0.11) earnings per share (EPS) for the quarter. Kitwave Group had a net margin of 2.83% and a return on equity of 20.87%. On average, sell-side analysts forecast that Kitwave Group plc will post 33.0838323 EPS for the current fiscal year.

Insider Transactions at Kitwave Group

In other news, insider Gerard T. Murray bought 15,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were bought at an average price of GBX 238 ($3.20) per share, for a total transaction of £35,700 ($47,996.77). 14.99% of the stock is currently owned by 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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