Smiths Group (LON:SMIN) Price Target Raised to GBX 3,040

Smiths Group (LON:SMIN) had its target price increased by Citigroup from GBX 2,950 to GBX 3,040 in a report released on Tuesday morning, MarketBeat reports. Citigroup currently has an overweight rating on the stock.

SMIN has been the topic of a number of other reports. Berenberg Bank reiterated 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 restated a “buy” rating and set a GBX 2,870 target price on shares of Smiths Group in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. boosted their price objective on 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. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 3,182.

Smiths Group Price Performance

Shares of SMIN opened at GBX 2,516 on Tuesday. The stock has a market cap of £7.99 billion, a P/E ratio of 29.50, a P/E/G ratio of 0.35 and a beta of 0.66. The business’s fifty day moving average is GBX 2,440.97 and its 200 day moving average is GBX 2,404.08. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 29.55. Smiths Group has a 12-month low of GBX 1,671 and a 12-month high of GBX 2,664.

Smiths Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 19th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Richard Howes acquired 70 shares of the stock in a transaction 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. Also, insider Karin Hoeing bought 224 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of GBX 2,522 per share, for a total transaction of £5,649.28. Insiders own 0.78% of the company’s stock.

About Smiths Group

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.