Kitwave Group (LON:KITW) Shares Down 3% on Analyst Downgrade

Kitwave Group plc (LON:KITW)’s share price was down 3% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from GBX 495 to GBX 420. Canaccord Genuity Group currently has a buy rating on the stock. Kitwave Group traded as low as GBX 317.40 ($4.33) and last traded at GBX 321 ($4.38). Approximately 96,772 shares changed hands during trading, a decline of 64% from the average daily volume of 269,906 shares. The stock had previously closed at GBX 331 ($4.52).

Kitwave Group Stock Performance

The company has a 50 day moving average price of GBX 311.87 and a 200-day moving average price of GBX 291.91. The company has a market cap of £189.57 million, a P/E ratio of 9.82 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 1.02 and a debt-to-equity ratio of 103.83.

Kitwave Group (LON:KITW) last released its quarterly earnings results on Tuesday, July 1st. The company reported GBX 7.90 ($0.11) earnings per share for the quarter. Kitwave Group had a return on equity of 20.87% and a net margin of 2.83%. Equities analysts expect that Kitwave Group plc will post 33.0838323 EPS for the current fiscal year.

Kitwave Group Company Profile

Kitwave Group plc is a delivered wholesale business with over 2,100 employees and a network of 37 depots able to support delivery throughout the UK, specialising in selling impulse products (such as confectionery, soft drinks, snacks, ice cream), frozen and chilled foods, alcohol, groceries and tobacco to over 46,000, mainly independent, customers.