Raymond James Financial Downgrades Descartes Systems Group (DSG) to Market Perform
Descartes Systems Group (TSE:DSG) (NASDAQ:DSGX) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday. They presently have a C$31.00 price target on the stock. Raymond James Financial’s price objective would indicate a potential downside of 10.61% from the company’s current price.
DSG has been the topic of several other reports. Barclays raised their target price on Descartes Systems Group from C$36.00 to C$39.00 in a research report on Thursday, September 7th. BMO Capital Markets reissued a “market perform” rating and issued a C$29.00 target price on shares of Descartes Systems Group in a research report on Thursday, September 7th. Canaccord Genuity raised their target price on Descartes Systems Group from C$30.00 to C$34.00 in a research report on Thursday. Finally, Royal Bank Of Canada raised their target price on Descartes Systems Group to C$45.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Descartes Systems Group presently has a consensus rating of “Buy” and an average target price of C$35.43.
Descartes Systems Group (DSG) opened at C$34.68 on Thursday. Descartes Systems Group has a 12-month low of C$27.39 and a 12-month high of C$39.91.
In other news, Director Michael Verhoeve sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of C$34.33, for a total value of C$257,475.00. Insiders sold 38,500 shares of company stock worth $1,316,915 in the last ninety days.
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Descartes Systems Group Company Profile
Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.
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