Concurrent Technologies (LON:CNC) Reaches New 52-Week High – What’s Next?

Shares of Concurrent Technologies Plc (LON:CNC) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 290 and last traded at GBX 281, with a volume of 157,017 shares trading hands. The stock had previously closed at GBX 275.

Analysts Set New Price Targets

Separately, Berenberg Bank raised their target price on Concurrent Technologies from GBX 275 to GBX 320 and gave the stock a “buy” rating in a report on Monday, September 7th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 285.

Concurrent Technologies Stock Up 5.4%

The company has a debt-to-equity ratio of 6.56, a current ratio of 2.52 and a quick ratio of 1.86. The company has a market capitalization of £267.98 million, a price-to-earnings ratio of 51.48 and a beta of 1.28. The business has a 50 day simple moving average of GBX 260.35 and a 200 day simple moving average of GBX 248.94.

Concurrent Technologies (LON:CNC) last issued its quarterly earnings data on Monday, September 7th. The technology company reported GBX 3.06 earnings per share for the quarter. Concurrent Technologies had a return on equity of 11.21% and a net margin of 10.85%. As a group, equities analysts predict that Concurrent Technologies Plc will post 6.10 earnings per share for the current fiscal year.

About Concurrent Technologies

Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest 9th generation embedded Intel® Core™ processors, Intel® Xeon® and Intel® Atom™ processors. The products are designed to be compliant with industry specifications and support many of today’s leading embedded Operating Systems.