Royal Bank Of Canada Trims Kinaxis Inc (TSE:KXS) Target Price to C$85.00
Kinaxis Inc (TSE:KXS) had its target price lowered by equities researchers at Royal Bank Of Canada from C$100.00 to C$85.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 6.66% from the stock’s current price.
Other research analysts have also issued research reports about the stock. TD Securities reissued a “buy” rating and set a C$81.00 target price on shares of Kinaxis in a research report on Monday, May 1st. Eight Capital reissued a “buy” rating and set a C$91.00 target price on shares of Kinaxis in a research report on Tuesday, April 25th. Laurentian cut their target price on shares of Kinaxis from C$96.00 to C$83.00 and set a “hold” rating for the company in a research report on Wednesday. Canaccord Genuity lowered shares of Kinaxis from a “buy” rating to a “hold” rating and cut their target price for the stock from C$100.00 to C$75.00 in a research report on Wednesday. Finally, CIBC lowered shares of Kinaxis from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$100.00 to C$82.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Kinaxis currently has an average rating of “Buy” and a consensus price target of C$83.70.
Shares of Kinaxis (TSE KXS) traded down 15.10% on Wednesday, reaching $67.66. The company had a trading volume of 572,694 shares. The company has a 50 day moving average price of $81.41 and a 200 day moving average price of $78.02. Kinaxis has a 52-week low of $56.47 and a 52-week high of $91.98. The stock has a market capitalization of $1.71 billion and a PE ratio of 168.73.
In other news, Director John Ernest Sicard sold 5,400 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of C$86.00, for a total transaction of C$464,400.00. Also, insider Sarah Mayme Sedgman sold 385 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of C$90.00, for a total transaction of C$34,650.00. Insiders have sold 62,952 shares of company stock valued at $5,540,474 in the last ninety days.
Kinaxis Inc provides cloud-based software for supply chain operations. The company offers RapidResponse, which provides supply chain planning and analytics capabilities for managing various supply chain management processes, including demand planning, supply planning, inventory management, order fulfillment, and capacity planning.
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