Evertz Technologies (TSE:ET) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Evertz Technologies Limited (TSE:ET) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.33 and traded as high as C$16.18. Evertz Technologies shares last traded at C$16.03, with a volume of 22,969 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ET. Raymond James Financial lifted their price target on shares of Evertz Technologies from C$14.00 to C$18.00 in a research note on Thursday, March 5th. Royal Bank Of Canada upped their price objective on shares of Evertz Technologies from C$13.00 to C$15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Evertz Technologies currently has an average rating of “Moderate Buy” and an average price target of C$16.00.

Evertz Technologies Trading Up 1.5%

The company has a current ratio of 1.65, a quick ratio of 0.68 and a debt-to-equity ratio of 7.66. The company has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.79 and a beta of 0.85. The company has a fifty day moving average of C$16.36 and a 200-day moving average of C$15.37.

Insider Activity

In other news, Director Rakesh Thakor Patel sold 22,200 shares of Evertz Technologies stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of C$16.70, for a total value of C$370,740.00. Following 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 ownership of the stock. 64.40% of the stock is owned by corporate 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.