Evertz Technologies (TSE:ET) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Evertz Technologies Limited (TSE:ET) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.46 and traded as high as C$16.62. Evertz Technologies shares last traded at C$16.52, with a volume of 13,425 shares trading hands.

Wall Street Analyst Weigh In

ET has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on shares of 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 increased their price objective on shares of Evertz Technologies from C$14.00 to C$18.00 in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group raised their price objective on shares of Evertz Technologies from C$17.50 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.50.

Evertz Technologies Trading Up 0.3%

The stock has a market capitalization of C$1.25 billion, a P/E ratio of 20.40, a PEG ratio of 0.79 and a beta of 0.85. The stock’s fifty day moving average price is C$16.37 and its 200 day moving average price is C$15.49. The company has a debt-to-equity ratio of 7.66, a current ratio of 1.65 and a quick ratio of 0.68.

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 during the quarter. Evertz Technologies had a net margin of 12.08% and a return on equity of 24.86%. Research analysts forecast that Evertz Technologies Limited will post 0.8010974 earnings per share for the current year.

Insiders Place Their Bets

In other Evertz Technologies news, Director Rakesh Thakor Patel sold 22,200 shares of Evertz Technologies stock in a transaction on 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 of the company’s stock, valued at C$6,652,445. The trade was a 5.28% decrease in their position. 64.40% of the stock is currently owned by company insiders.

Evertz Technologies Company Profile

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.