Berenberg Bank Increases Smiths Group (LON:SMIN) Price Target to GBX 2,750

Smiths Group (LON:SMIN) had its price objective boosted by equities researchers at Berenberg Bank from GBX 1,850 to GBX 2,750 in a research note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 13.08% from the company’s previous close.

A number of other brokerages have also weighed in on SMIN. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Smiths Group in a report on Friday, October 17th. Panmure Gordon reaffirmed a “buy” rating and set a GBX 2,870 target price on shares of Smiths Group in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,810.

Smiths Group Price Performance

Shares of SMIN stock opened at GBX 2,432 on Wednesday. The stock has a 50 day moving average price of GBX 2,424.20 and a 200 day moving average price of GBX 2,308.97. The firm has a market capitalization of £7.88 billion, a P/E ratio of 28.51, a P/E/G ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 29.55, a quick ratio of 1.29 and a current ratio of 2.07. Smiths Group has a 52-week low of GBX 1,671 and a 52-week high of GBX 2,561.

Smiths Group (LON:SMIN) last released its earnings results on Tuesday, September 23rd. The company reported GBX 85.70 earnings per share for the quarter. Smiths Group had a return on equity of 11.54% and a net margin of 7.98%. As a group, sell-side analysts predict that Smiths Group will post 85.1295337 earnings per share for the current year.

Smiths Group declared that its board has approved a share repurchase plan on Wednesday, November 19th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Smiths Group

In other news, insider Julian Fagge sold 26,199 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of GBX 2,421, for a total value of £634,277.79. Also, insider Richard Howes acquired 70 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of GBX 2,522 per share, for a total transaction of £1,765.40. 0.78% of the stock is currently owned by corporate insiders.

About Smiths Group

Smiths Group plc operates as an industrial engineering company in Americas, Europe, the Asia Pacific, and internationally. It operates through four businesses: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. The John Crane business engineers mechanical seals, seal support systems, power transmission couplings, and specialized filtration systems.