DS Smith plc (SMDS) Reaches New 1-Year High on Analyst Upgrade
DS Smith plc (LON:SMDS)’s share price hit a new 52-week high on Tuesday after Goldman Sachs Group, Inc. (The) raised their price target on the stock from GBX 485 to GBX 500. Goldman Sachs Group, Inc. (The) currently has a neutral rating on the stock. DS Smith plc traded as high as GBX 510 ($6.59) and last traded at GBX 509.50 ($6.58), with a volume of 3,264,964 shares. The stock had previously closed at GBX 500 ($6.46).
Several other equities research analysts also recently commented on SMDS. Jefferies Group LLC reaffirmed a “hold” rating and set a GBX 460 ($5.94) price objective on shares of DS Smith plc in a report on Thursday, May 18th. Peel Hunt reaffirmed a “buy” rating and set a GBX 520 ($6.72) price objective on shares of DS Smith plc in a report on Monday, June 12th. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 498 ($6.43) price objective on shares of DS Smith plc in a report on Thursday, June 29th. Barclays PLC reaffirmed an “overweight” rating and set a GBX 565 ($7.30) price objective (up from GBX 508 ($6.56)) on shares of DS Smith plc in a report on Wednesday, July 5th. Finally, Numis Securities Ltd downgraded shares of DS Smith plc to a “hold” rating and upped their price objective for the company from GBX 495 ($6.39) to GBX 520 ($6.72) in a report on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of GBX 516.44 ($6.67).
In related news, insider Adrian Marsh acquired 175,044 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of GBX 484 ($6.25) per share, for a total transaction of £847,212.96 ($1,094,166.29).
The firm has a 50-day moving average of GBX 493.46 and a 200-day moving average of GBX 458.10. The company’s market cap is GBX 4.84 billion.
The business also recently disclosed a dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Thursday, October 5th will be given a dividend of GBX 10.60 ($0.14) per share. This is a boost from DS Smith plc’s previous dividend of $4.60. This represents a dividend yield of 2.2%. The ex-dividend date is Thursday, October 5th.
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About DS Smith plc
DS Smith Plc is a provider of corrugated packaging in Europe and plastic packaging across the world. The Company’s segments include UK, Western Europe, DCH and Northern Europe, Central Europe and Italy, and Plastics. The Company designs and manufactures plastic bags and taps and fitments for use in bag-in-box packaging for liquids.
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