Kinaxis (TSE:KXS) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Kinaxis Inc. (TSE:KXS) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$149.64 and traded as high as C$152.97. Kinaxis shares last traded at C$149.65, with a volume of 70,730 shares.

Wall Street Analysts Forecast Growth

KXS has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of Kinaxis from C$173.00 to C$205.00 in a report on Friday, June 5th. Stifel Nicolaus reduced their target price on Kinaxis from C$245.00 to C$200.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Canaccord Genuity Group lowered their price target on Kinaxis from C$225.00 to C$200.00 in a research report on Friday, March 6th. BMO Capital Markets lifted their price target on Kinaxis from C$180.00 to C$185.00 in a research report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price target on Kinaxis from C$200.00 to C$210.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$200.00.

Kinaxis Stock Performance

The company has a current ratio of 1.72, a quick ratio of 2.29 and a debt-to-equity ratio of 12.15. The firm’s fifty day moving average price is C$149.64 and its two-hundred day moving average price is C$148.41. The stock has a market capitalization of C$4.09 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 3.60 and a beta of 0.72.

Kinaxis (TSE:KXS) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.45 EPS for the quarter. Kinaxis had a net margin of 14.48% and a return on equity of 19.72%. The company had revenue of C$230.19 million for the quarter. As a group, equities research analysts forecast that Kinaxis Inc. will post 4.2526231 EPS for the current year.

Insider Activity

In other news, Director Robert G. Courteau sold 5,010 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$151.39, for a total transaction of C$758,463.90. Following the completion of the transaction, the director directly owned 32,945 shares of the company’s stock, valued at C$4,987,543.55. This represents a 13.20% decrease in their position. Also, insider Conrad John Mandala sold 924 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$137.14, for a total value of C$126,717.36. Following the transaction, the insider directly owned 820 shares of the company’s stock, valued at approximately C$112,454.80. The trade was a 52.98% decrease in their ownership of the stock. Over the last three months, insiders have sold 35,934 shares of company stock worth $5,328,181. Corporate insiders own 1.20% of the company’s stock.

About Kinaxis

Kinaxis is a leader in modern supply chain orchestration, powering complex global supply chains, and supporting the people who manage them. Our powerful, AI-infused supply chain orchestration platform, Maestro, combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain – from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today’s volatility and disruption.