ATB Cormark Capital Markets Raises Tecsys (TSE:TCS) Price Target to C$41.00

Key Points

• ATB Cormark raised Tecsys’ price target to C$41 from C$40 and maintained an “outperform” rating, implying 31.41% upside from the previous close.
• Analyst sentiment is broadly positive: Tecsys has an average “Buy” rating and a consensus price target of C$37.90, with multiple firms assigning “Strong Buy” ratings.
• Tecsys shares rose 2.6% to C$31.20. In its latest quarter, the company reported C$0.21 in EPS and C$50.05 million in revenue, while insiders own 17.05% of the stock and have recently sold shares.

Tecsys (TSE:TCS - Get Free Report) had its price objective upped by equities researchers at ATB Cormark Capital Markets from C$40.00 to C$41.00 in a research note issued on Monday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective would suggest a potential upside of 31.41% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Canaccord Genuity Group raised Tecsys to a "strong-buy" rating in a research report on Thursday, August 6th. TD set a C$39.00 price target on shares of Tecsys and gave the company a "buy" rating in a research report on Wednesday, July 8th. TD Securities upgraded shares of Tecsys to a "strong-buy" rating in a research note on Thursday, July 9th. Finally, National Bank Financial upped their price objective on shares of Tecsys from C$40.00 to C$41.00 and gave the stock an "outperform" rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$37.90.

Tecsys Stock Up 2.6%

TCS stock traded up C$0.78 during trading on Monday, reaching C$31.20. 6,546 shares of the stock were exchanged, compared to its average volume of 17,916. The firm's 50 day moving average is C$32.00 and its 200 day moving average is C$32.25. Tecsys has a twelve month low of C$22.51 and a twelve month high of C$38.00. The company has a current ratio of 1.12, a quick ratio of 1.40 and a debt-to-equity ratio of 8.33. The firm has a market cap of C$449.81 million, a P/E ratio of 115.56 and a beta of 0.84.

Tecsys (TSE:TCS - Get Free Report) last announced its quarterly earnings results on Thursday, September 10th. The company reported C$0.21 earnings per share (EPS) for the quarter. Tecsys had a return on equity of 9.76% and a net margin of 3.24%.The business had revenue of C$50.05 million for the quarter. As a group, research analysts forecast that Tecsys will post 0.4600739 EPS for the current year.

Insider Transactions at Tecsys

In related news, Director David Brereton sold 1,700 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of C$33.00, for a total value of C$56,100.00. Following the completion of the sale, the director directly owned 714,572 shares of the company's stock, valued at approximately C$23,580,876. This represents a 0.24% decrease in their position. Insiders sold a total of 4,200 shares of company stock worth $133,322 in the last ninety days. Corporate insiders own 17.05% of the company's stock.

About Tecsys

Tecsys is trusted by mission-critical organizations in healthcare and distribution to build resilient, efficient and secure supply chains. A global provider of cloud-based, AI-driven software with deep domain expertise, Tecsys delivers real-time operational visibility and execution across critical workflows when performance and reliability matter most. Tecsys is publicly traded on the Toronto Stock Exchange (TCS). For more information, visit www.tecsys.com.

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