DS Smith plc (SMDS) Hits New 12-Month High After Analyst Upgrade

DS Smith plc (LON:SMDS) hit a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at GBX 500 ($6.46).

Several other research analysts have also weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a GBX 460 ($5.94) price target on shares of DS Smith plc in a research report on Thursday, May 18th. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 498 ($6.43) price target on shares of DS Smith plc in a research report on Thursday, June 29th. Berenberg Bank upgraded DS Smith plc to a “buy” rating and lifted their target price for the stock from GBX 400 ($5.17) to GBX 550 ($7.10) in a research note on Thursday, August 3rd. Numis Securities Ltd downgraded DS Smith plc to a “hold” rating and lifted their target price for the stock from GBX 495 ($6.39) to GBX 520 ($6.72) in a research note on Tuesday, July 18th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 520 ($6.72) target price on shares of DS Smith plc in a research note on Monday, June 12th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. DS Smith plc currently has an average rating of “Hold” and an average target price of GBX 516.44 ($6.67).

In related news, insider Adrian Marsh acquired 175,044 shares of the company’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of GBX 484 ($6.25) per share, with a total value of £847,212.96 ($1,094,166.29).

The firm’s 50-day moving average is GBX 493.02 and its 200 day moving average is GBX 457.69. The company’s market capitalization is GBX 4.84 billion.

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 1st. Investors of record on Thursday, October 5th will be paid a dividend of GBX 10.60 ($0.14) per share. This is a positive change from DS Smith plc’s previous dividend of $4.60. The ex-dividend date is Thursday, October 5th. This represents a yield of 2.2%.

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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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