Royal Bank Of Canada Forecasts Strong Price Appreciation for Smiths Group (LON:SMIN) Stock

Smiths Group (LON:SMIN) had its price objective lifted by research analysts at Royal Bank Of Canada from GBX 3,500 to GBX 4,300 in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 71.31% from the company’s current price.

Several other equities research analysts have also recently commented on SMIN. Berenberg Bank reaffirmed a “hold” rating and set a GBX 2,750 target price on shares of Smiths Group in a research note on Friday, November 28th. Panmure Gordon reaffirmed a “buy” rating and set a GBX 2,870 price objective on shares of Smiths Group in a research report on Thursday, November 20th. JPMorgan Chase & Co. lifted their price objective on shares of Smiths Group from GBX 2,820 to GBX 2,950 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Citigroup increased their target price on shares of Smiths Group from GBX 2,950 to GBX 3,040 and gave the stock an “overweight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,182.

Smiths Group Stock Performance

Shares of SMIN opened at GBX 2,510 on Thursday. 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’s fifty day simple moving average is GBX 2,443.21 and its two-hundred day simple moving average is GBX 2,405.44. Smiths Group has a 12 month low of GBX 1,671 and a 12 month high of GBX 2,664. The stock has a market capitalization of £7.97 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66.

Smiths Group declared that its board has authorized a share repurchase plan on Wednesday, November 19th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Smiths Group

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

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.