Smiths Group (LON:SMIN) Given New GBX 3,040 Price Target at Citigroup

Smiths Group (LON:SMIN) had its price objective raised by Citigroup from GBX 2,950 to GBX 3,040 in a research note released on Tuesday morning, Marketbeat.com reports. Citigroup currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a report on Thursday, December 4th. Panmure Gordon restated a “buy” rating and issued a GBX 2,870 target price on shares of Smiths Group in a research note on Thursday, November 20th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 2,750 price target on shares of Smiths Group in a report on Friday, November 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Smiths Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,902.50.

Smiths Group Trading Down 1.4%

Shares of LON SMIN opened at GBX 2,580 on Tuesday. Smiths Group has a 1-year low of GBX 1,671 and a 1-year high of GBX 2,664. The business has a fifty day moving average price of GBX 2,437.09 and a 200 day moving average price of GBX 2,402.40. The stock has a market capitalization of £8.19 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 29.55, a current ratio of 2.07 and a quick ratio of 1.29.

Smiths Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 19th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Richard Howes purchased 70 shares of the stock in a transaction on Monday, November 3rd. The stock was bought at an average price of GBX 2,522 per share, with a total value of £1,765.40. Also, insider Karin Hoeing acquired 224 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of GBX 2,522 per share, for a total transaction of £5,649.28. Company insiders own 0.78% of the company’s stock.

Smiths Group Company Profile

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. The Smiths Detection business provides sensors and systems that detect and identify explosives, narcotics, weapons, chemical agents, biohazards, and contraband.