Smiths Group (LON:SMIN) Price Target Raised to GBX 4,300 at Royal Bank Of Canada

Smiths Group (LON:SMIN) had its target price increased by equities research analysts at Royal Bank Of Canada from GBX 3,500 to GBX 4,300 in a research report issued to clients and investors on Thursday,Digital Look reports. The firm presently has a “buy” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 70.91% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Berenberg Bank restated a “hold” rating and set a GBX 2,750 price target on shares of Smiths Group in a research report on Friday, November 28th. Panmure Gordon reiterated a “buy” rating and set a GBX 2,870 price objective on shares of Smiths Group in a research note on Thursday, November 20th. JPMorgan Chase & Co. increased their target price on Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, Citigroup raised their target price on Smiths Group from GBX 2,950 to GBX 3,040 and gave the company an “overweight” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 3,182.

Smiths Group Price Performance

LON:SMIN traded down GBX 14 during trading hours on Thursday, reaching GBX 2,516. 1,994,303 shares of the company were exchanged, compared to its average volume of 2,749,797. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 29.55. The firm has a market cap of £7.99 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. Smiths Group has a twelve month low of GBX 1,671 and a twelve month high of GBX 2,664. The stock’s 50-day moving average is GBX 2,439.29 and its 200-day moving average is GBX 2,403.29.

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

Insider Buying and Selling

In related news, insider Karin Hoeing acquired 224 shares of Smiths Group stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average price of GBX 2,522 per share, for a total transaction of £5,649.28. Also, insider Richard Howes bought 70 shares of the company’s 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. Company insiders own 0.78% of the company’s stock.

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