Evertz Technologies (TSE:ET) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Evertz Technologies (TSE:ET) had its target price hoisted by equities researchers at Canaccord Genuity Group from C$17.50 to C$18.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 9.22% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Evertz Technologies from C$13.00 to C$15.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 3rd. Raymond James Financial upped their price objective on shares of Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$16.50.

Evertz Technologies Price Performance

Shares of ET traded down C$0.04 during midday trading on Thursday, reaching C$16.48. The stock had a trading volume of 24,258 shares, compared to its average volume of 25,759. The company’s 50-day moving average is C$16.37 and its 200 day moving average is C$15.46. Evertz Technologies has a 12-month low of C$11.92 and a 12-month high of C$18.12. The company has a current ratio of 1.65, a quick ratio of 0.68 and a debt-to-equity ratio of 7.66. The company has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85.

Evertz Technologies (TSE:ET) last announced its quarterly earnings data on Wednesday, June 24th. The company reported C$0.20 earnings per share for the quarter. The company had revenue of C$131.57 million for the quarter. Evertz Technologies had a return on equity of 24.86% and a net margin of 12.08%. On average, equities analysts predict that Evertz Technologies will post 0.8010974 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rakesh Thakor Patel sold 22,200 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of C$16.70, for a total transaction of C$370,740.00. Following the completion of the sale, the director directly owned 398,350 shares in the company, valued at C$6,652,445. This represents a 5.28% decrease in their position. 64.40% of the stock is owned by corporate insiders.

About Evertz Technologies

Evertz Technologies Ltd is a Canadian provider of telecommunications equipment and technology solutions to the television broadcast and new-media industries. Evertz equipment is used in the production, post-production and transmission of television content. Its solutions are sold to content creators, broadcasters, and service providers looking to support multi-channel digital and high definition television, and next generation Internet Protocol environments. More than half of the firm’s revenue is generated in the United States.