Kinaxis Inc. (TSE:KXS) dropped 15.8% during mid-day trading on Thursday . The stock traded as low as C$129.03 and last traded at C$137.37. Approximately 432,777 shares were traded during mid-day trading, an increase of 428% from the average daily volume of 82,028 shares. The stock had previously closed at C$163.16.
KXS has been the topic of several recent research reports. Scotiabank reduced their target price on shares of Kinaxis from C$241.00 to C$179.00 in a research note on Friday. CIBC reduced their price objective on shares of Kinaxis from C$288.00 to C$200.00 in a research note on Friday. National Bank Financial reduced their price objective on shares of Kinaxis from C$250.00 to C$225.00 and set an “outperform” rating on the stock in a research note on Friday. TD Securities reduced their price objective on shares of Kinaxis from C$255.00 to C$165.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Eight Capital reduced their price objective on shares of Kinaxis from C$260.00 to C$190.00 in a research note on Friday.
The company has a debt-to-equity ratio of 6.23, a current ratio of 2.84 and a quick ratio of 2.75. The stock’s 50 day simple moving average is C$176.22 and its two-hundred day simple moving average is C$186.36. The stock has a market cap of C$3.60 billion and a P/E ratio of 158.76.
About Kinaxis (TSE:KXS)
Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. The company offers RapidResponse, which provide supply chain planning and analytics capabilities for managing various supply chain management processes, including demand planning, supply planning, inventory management, order fulfillment, capacity planning, and machine learning, as well as sales and operations planning process.
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