Smiths News (LON:SNWS) Trading Up 1.6% – Here’s Why

Shares of Smiths News plc (LON:SNWS) shot up 1.6% on Friday . The company traded as high as GBX 78 and last traded at GBX 77. 4,150,447 shares were traded during mid-day trading, an increase of 853% from the average session volume of 435,586 shares. The stock had previously closed at GBX 75.80.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNWS. Berenberg Bank raised their price objective on shares of Smiths News from GBX 75 to GBX 80 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 95 target price on shares of Smiths News in a research report on Tuesday, November 4th. Two investment 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 an average price target of GBX 87.50.

Smiths News Trading Up 1.6%

The firm’s 50-day moving average is GBX 69.25 and its 200-day moving average is GBX 61.70. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of -1,469.70. The firm has a market cap of £186.36 million, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.29 and a beta of 0.83.

Insider Activity

In related news, insider Jonathan Bunting sold 442,530 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of GBX 68, for a total value of £300,920.40. Also, insider Deborah Rabey purchased 13,866 shares of the business’s stock in a transaction on Friday, December 12th. The shares were bought at an average price of GBX 71 per share, with a total value of £9,844.86. Corporate insiders own 2.63% of the company’s stock.

About Smiths News

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains. Our teams go further, when others stop, striving to meet the highest standards in all we do.