Kitwave Group (LON:KITW) Stock Price Up 2.6% - What's Next?

Key Points

• Kitwave Group plc saw its stock price increase by 2.6%, trading as high as GBX 240 ($3.24) with a significant trading volume of 637,753 shares, up 83% from its average.
• Canaccord Genuity Group has lowered their target price for Kitwave Group from GBX 495 to GBX 420 while maintaining a "buy" rating, with an average consensus target price of GBX 457.50.
• For the latest quarter, Kitwave Group reported earnings of GBX 7.90 per share, showing a net margin of 2.83% and a return on equity of 20.87%.

Kitwave Group plc (LON:KITW - Get Free Report)'s stock price traded up 2.6% during mid-day trading on Wednesday . The company traded as high as GBX 240 ($3.24) and last traded at GBX 236 ($3.18). 637,753 shares were traded during mid-day trading, an increase of 83% from the average session volume of 348,215 shares. The stock had previously closed at GBX 230 ($3.10).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their target price on shares of Kitwave Group from GBX 495 to GBX 420 and set a "buy" rating for the company in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Kitwave Group currently has an average rating of "Buy" and a consensus target price of GBX 457.50.

Kitwave Group Stock Up 2.6%

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 market cap of £197.62 million, a P/E ratio of 1,140.10 and a beta of 0.78. The business's 50 day moving average price is GBX 233.61 and its 200-day moving average price is GBX 267.46.

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

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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