Kitwave Group (LON:KITW) Shares Up 0.7% – Here’s Why

Shares of Kitwave Group plc (LON:KITW) shot up 0.7% on Tuesday . The stock traded as high as GBX 295 ($3.74) and last traded at GBX 292 ($3.70). 78,057 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 192,138 shares. The stock had previously closed at GBX 290 ($3.68).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 495 ($6.27) price target on shares of Kitwave Group in a research note on Thursday, November 7th.

Kitwave Group Stock Performance

The stock has a market capitalization of £236.86 million, a PE ratio of 12.27 and a beta of 0.78. The business has a 50 day moving average price of GBX 296.99 and a 200 day moving average price of GBX 315.91. The company has a debt-to-equity ratio of 103.83, a current ratio of 1.02 and a quick ratio of 0.65.

Kitwave Group Company Profile

Kitwave Group plc is a delivered wholesale business with over 1,500 employees and a network of 32 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 42,000, mainly independent, customers.