Kits Eyecare (TSE:KITS) Given New C$22.00 Price Target at Canaccord Genuity Group

Kits Eyecare (TSE:KITS) had its target price reduced by Canaccord Genuity Group from C$23.00 to C$22.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 92.48% from the stock’s current price.

Several other brokerages have also recently weighed in on KITS. Desjardins dropped their target price on Kits Eyecare from C$25.00 to C$23.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus lowered 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. Finally, ATB Cormark Capital Markets dropped 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 note on Thursday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$20.69.

Kits Eyecare Stock Down 7.7%

TSE:KITS traded down C$0.95 during trading hours on Thursday, reaching C$11.43. The company’s stock had a trading volume of 306,356 shares, compared to its average volume of 115,911. The stock has a market cap of C$388.51 million, a PE ratio of 127.00 and a beta of 0.46. Kits Eyecare has a 1 year low of C$11.12 and a 1 year 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 earnings per share (EPS) for the quarter. The company had revenue of C$57.47 million for the quarter.

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.