Citigroup Forecasts Strong Price Appreciation for Smiths Group (LON:SMIN) Stock

Smiths Group (LON:SMIN) had its price target boosted by stock analysts at Citigroup from GBX 2,950 to GBX 3,040 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Citigroup’s price target would indicate a potential upside of 15.15% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Berenberg Bank reissued a “hold” rating and set a GBX 2,750 target price on shares of Smiths Group in a research note on Friday, November 28th. JPMorgan Chase & Co. lifted their price objective on Smiths Group from GBX 2,820 to GBX 2,950 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Panmure Gordon reissued a “buy” rating and set a GBX 2,870 target price on shares of Smiths Group in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 2,902.50.

Smiths Group Price Performance

SMIN traded up GBX 2 during trading on Tuesday, hitting GBX 2,640. The company’s stock had a trading volume of 809,621 shares, compared to its average volume of 2,886,351. The firm has a market capitalization of £8.38 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 0.35 and a beta of 0.66. The business’s fifty day simple moving average is GBX 2,433.65 and its 200 day simple moving average is GBX 2,400.20. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 29.55. Smiths Group has a twelve month low of GBX 1,671 and a twelve month high of GBX 2,664.

Smiths Group declared that its board has authorized a share repurchase program on Wednesday, November 19th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Richard Howes acquired 70 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired 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 stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of GBX 2,522 per share, with a total value 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.