Evertz Technologies Limited (ET) Reaches New 12-Month High on Analyst Upgrade

Shares of Evertz Technologies Limited (TSE:ET) reached a new 52-week high on Wednesday after Raymond James Financial raised their price target on the stock from C$18.00 to C$19.50. Raymond James Financial currently has an outperform rating on the stock. Evertz Technologies Limited traded as high as C$18.68 and last traded at C$18.46, with a volume of 39,084 shares. The stock had previously closed at C$18.08.

Several other analysts have also issued reports on ET. Royal Bank Of Canada lifted their target price on shares of Evertz Technologies Limited from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 14th. Canaccord Genuity boosted their price target on shares of Evertz Technologies Limited from C$19.50 to C$20.25 in a report on Wednesday.

In related news, insider Anthony Ronald Gridley sold 2,400 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of C$17.83, for a total value of C$42,792.00. Also, Director Rakesh Thakor Patel sold 1,556 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of C$17.86, for a total transaction of C$27,790.16. In the last quarter, insiders sold 232,678 shares of company stock valued at $4,167,725.

The firm has a market cap of $1.41 billion and a PE ratio of 20.23. The company’s 50 day moving average price is $18.01 and its 200 day moving average price is $17.24.

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About Evertz Technologies Limited

Evertz Technologies Limited is an equipment provider to the television broadcast telecommunications and media industries. The Company designs, manufactures and markets video and audio infrastructure equipment for the production, post-production and transmission of television content. The Company’s solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their multi-channel digital and high definition television (HDTV) and high bandwidth low latency Internet Protocol (IP) network environments, and by telecommunications and new-media companies.

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