Desjardins Lowers Alithya Group (TSE:ALYA) Price Target to C$1.55

Key Points

• Desjardins cut its price target on Alithya Group to C$1.55 from C$1.75, while keeping a buy rating on the stock. The new target still implies about 58% upside from the prior close.
• Other analysts have also turned more cautious recently: Scotiabank downgraded the stock to sector perform and reduced its target to C$1.50, while Ventum trimmed its target to C$2.00 but kept a buy rating.
• Alithya shares were flat at C$0.98 in Tuesday trading, and the company remains below its recent averages and 52-week high. Its latest quarter showed C$113.78 million in revenue and EPS of C$0.08, but profitability remained negative.

Alithya Group (TSE:ALYA - Get Free Report) had its target price reduced by stock analysts at Desjardins from C$1.75 to C$1.55 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target indicates a potential upside of 58.16% from the stock's previous close.

Several other brokerages also recently commented on ALYA. Scotiabank downgraded Alithya Group from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from C$2.00 to C$1.50 in a research note on Friday, April 24th. Ventum dropped their price objective on shares of Alithya Group to C$2.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$2.01.

Alithya Group Stock Performance

TSE ALYA remained flat at C$0.98 on Tuesday. The company's stock had a trading volume of 6,042 shares, compared to its average volume of 54,763. The company has a current ratio of 1.25, a quick ratio of 1.32 and a debt-to-equity ratio of 88.81. The company has a market cap of C$94.83 million, a PE ratio of -2.45, a price-to-earnings-growth ratio of 2.38 and a beta of -0.68. Alithya Group has a 12-month low of C$0.94 and a 12-month high of C$2.61. The business has a 50 day moving average price of C$1.12 and a 200-day moving average price of C$1.36.

Alithya Group (TSE:ALYA - Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The company reported C$0.08 earnings per share (EPS) for the quarter. Alithya Group had a negative return on equity of 24.36% and a negative net margin of 8.12%.The company had revenue of C$113.78 million during the quarter. As a group, analysts predict that Alithya Group will post 0.0400733 earnings per share for the current year.

Alithya Group Company Profile

Alithya Group Inc is a leader in Strategy and digital transformation, with professionals in Canada, the us, and Europe. Its integrated offering is laid out as follows: Strategy, custom solutions, Microsoft solutions, and Oracle solutions. Clients entrust the company with their strategic projects across Banking, Investment and Insurance, Energy, Manufacturing, Retail and Distribution, Telecommunications, Transportation, Professional Services, Healthcare, and Government sectors. Geographically, it derives a majority of revenue from Canada.

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