Evertz Technologies (TSE:ET) Hits New 12-Month High – Still a Buy?

Evertz Technologies Limited (TSE:ET) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$20.92 and last traded at C$16.65, with a volume of 14875 shares. The stock had previously closed at C$16.35.

Analyst Upgrades and Downgrades

ET has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on Evertz Technologies from C$13.00 to C$15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 3rd. Raymond James Financial upped their price objective on Evertz Technologies from C$14.00 to C$18.00 in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group boosted their price target on shares of Evertz Technologies from C$17.50 to C$18.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Evertz Technologies presently has an average rating of “Moderate Buy” and a consensus price target of C$16.50.

Evertz Technologies Trading Up 14.0%

The business’s 50-day moving average price is C$16.36 and its 200-day moving average price is C$15.52. The company has a debt-to-equity ratio of 6.93, a current ratio of 1.63 and a quick ratio of 0.68. The firm has a market capitalization of C$1.41 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85.

Evertz Technologies (TSE:ET) last announced its earnings results on Wednesday, June 24th. The company reported C$0.20 earnings per share for the quarter. Evertz Technologies had a net margin of 12.40% and a return on equity of 27.67%. The business had revenue of C$131.57 million during the quarter. As a group, analysts expect that Evertz Technologies Limited will post 0.8010974 earnings per share for the current fiscal year.

Insider Activity at Evertz Technologies

In other news, Director Rakesh Thakor Patel sold 22,200 shares of Evertz Technologies stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of C$16.70, for a total value of C$370,740.00. Following the sale, the director owned 398,350 shares of the company’s stock, valued at C$6,652,445. The trade was a 5.28% decrease in their ownership of the stock. Company insiders own 64.40% of the company’s stock.

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.