Kinaxis Inc (KXS) Price Target Cut to C$78.00 by Analysts at Scotiabank
Kinaxis Inc (TSE:KXS) had its price target reduced by stock analysts at Scotiabank from C$81.00 to C$78.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 16.23% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on KXS. National Bank Financial dropped their price objective on Kinaxis from C$100.00 to C$90.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. TD Securities dropped their price objective on Kinaxis from C$98.00 to C$93.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Laurentian dropped their price objective on Kinaxis from C$96.00 to C$83.00 and set a “hold” rating on the stock in a research note on Wednesday, August 9th. Eight Capital dropped their price objective on Kinaxis from C$100.00 to C$90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Finally, CIBC cut Kinaxis from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$100.00 to C$82.00 in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$90.10.
Shares of Kinaxis (TSE KXS) traded down 1.02% during midday trading on Tuesday, hitting $67.11. 85,132 shares of the stock traded hands. The firm’s 50 day moving average price is $72.96 and its 200 day moving average price is $78.52. Kinaxis has a 12-month low of $56.47 and a 12-month high of $91.98. The company has a market capitalization of $1.71 billion and a PE ratio of 136.40.
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In related news, Director Douglas Proctor Colbeth sold 15,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of C$76.49, for a total transaction of C$1,200,893.00. Insiders have sold a total of 50,000 shares of company stock worth $3,761,224 over the last three months.
Kinaxis Inc is a provider of cloud-based subscription software for supply chain operations. The Company offers RapidResponse as a collection of cloud-based configurable applications. The Company’s RapidResponse product provides supply chain planning and analytics capabilities that create the foundation for managing multiple, interconnected supply chain management processes, including demand planning, supply planning, inventory management, order fulfillment and capacity planning.
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