Deutsche Bank Aktiengesellschaft Upgrades Softcat (LON:SCT) to "Buy"

Key Points

• Deutsche Bank Aktiengesellschaft has upgraded Softcat to a "Buy" rating with a new price target of GBX 1,900, suggesting a potential upside of 16.78% from its last closing price.
• Softcat's stock recently fell 0.8%, trading at GBX 1,627, despite several brokerages rating it as "Buy" or "Neutral."
• The company reported earnings of GBX 69.50 per share for the latest quarter, indicating a strong return on equity of 43.79%.

Softcat (LON:SCT - Get Free Report) was upgraded by analysts at Deutsche Bank Aktiengesellschaft to a "buy" rating in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a GBX 1,900 price objective on the stock, up from their prior price objective of GBX 1,830. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 16.78% from the stock's previous close.

A number of other brokerages also recently issued reports on SCT. Liberum Capital raised Softcat to a "buy" rating and set a GBX 1,800 target price for the company in a research note on Thursday, July 24th. Jefferies Financial Group boosted their price objective on Softcat from GBX 1,400 to GBX 1,450 and gave the stock an "underperform" rating in a research report on Thursday. Shore Capital reiterated a "buy" rating and set a GBX 1,925 price target on shares of Softcat in a report on Wednesday. UBS Group reiterated a "sell" rating and set a GBX 1,400 target price on shares of Softcat in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Softcat in a research note on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of GBX 1,724.25.

Softcat Stock Down 0.8%

LON SCT traded down GBX 13 during midday trading on Thursday, hitting GBX 1,627. 4,497,126 shares of the company traded hands, compared to its average volume of 752,298. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.60 and a quick ratio of 1.38. The company has a market cap of £3.24 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71. The company's 50-day simple moving average is GBX 1,578.85 and its 200-day simple moving average is GBX 1,652.09. Softcat has a 52 week low of GBX 1,427 and a 52 week high of GBX 1,960.

Softcat (LON:SCT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported GBX 69.50 earnings per share for the quarter. Softcat had a return on equity of 43.79% and a net margin of 12.37%. As a group, equities research analysts forecast that Softcat will post 60.72 earnings per share for the current year.

Softcat Company Profile

Softcat plc operates as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, procures, designs, implements, and manages technology, such as software licensing, workplace technology, networking, security, and cloud and datacenter for businesses and public sector organizations.

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