Joseph Thompson Sells 75,000 Shares of Kits Eyecare (TSE:KITS) Stock

Kits Eyecare Ltd (TSE:KITS) insider Joseph Thompson sold 75,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$13.65, for a total value of C$1,023,750.00. Following the transaction, the insider directly owned 960,114 shares of the company’s stock, valued at approximately C$13,105,556.10. The trade was a 7.25% decrease in their ownership of the stock.

Kits Eyecare Stock Performance

TSE KITS traded up C$1.10 on Thursday, reaching C$14.44. 172,177 shares of the stock traded hands, compared to its average volume of 125,368. The stock’s fifty day moving average price is C$13.59. The company has a market capitalization of C$490.89 million, a P/E ratio of 144.40 and a beta of 0.11. Kits Eyecare Ltd has a 12 month low of C$10.61 and a 12 month high of C$22.56.

Kits Eyecare (TSE:KITS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$57.47 million for the quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KITS. Canaccord Genuity Group cut their price objective on Kits Eyecare from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Desjardins cut their price objective on Kits Eyecare from C$25.00 to C$23.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus cut their price objective on Kits Eyecare from C$24.00 to C$21.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, ATB Cormark Capital Markets cut their price objective on Kits Eyecare from C$20.00 to C$16.75 and set a “speculative buy” rating for the company in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$20.69.

Kits Eyecare Company Profile

KITS (TSX: KITS) is one of the world’s fastest growing eyecare providers, offering high-quality, affordable prescription glasses and contact lenses through its vertically integrated digital platform. With advanced in-house lens manufacturing, an industry-leading digital fit experience powered by OpticianAI, and thousands of 5-star customer reviews, KITS is redefining how Canadians experience eyecare. Designed in Canada. Delivered worldwide.