Colabor Group (TSE:GCL) Shares Up 28.6% – Here’s What Happened

Colabor Group Inc. (TSE:GCL)’s share price was up 28.6% during mid-day trading on Monday . The stock traded as high as C$0.05 and last traded at C$0.05. Approximately 817,875 shares changed hands during trading, an increase of 255% from the average daily volume of 230,636 shares. The stock had previously closed at C$0.04.

Wall Street Analysts Forecast Growth

GCL has been the topic of a number of research reports. Desjardins cut their target price on shares of Colabor Group from C$1.50 to C$0.50 and set a “buy” rating on the stock in a research report on Monday, October 20th. Raymond James Financial upgraded Colabor Group to a “hold” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$1.00.

Colabor Group Stock Performance

The stock’s fifty day moving average price is C$0.16 and its two-hundred day moving average price is C$0.54. The company has a market cap of C$4.08 million, a P/E ratio of -0.05, a P/E/G ratio of 0.61 and a beta of -0.32. The company has a debt-to-equity ratio of 153.61, a quick ratio of 0.76 and a current ratio of 1.62.

Colabor Group (TSE:GCL) last issued its quarterly earnings results on Friday, October 17th. The company reported C($0.73) EPS for the quarter. The business had revenue of C$212.47 million for the quarter. Colabor Group had a return on equity of 0.83% and a net margin of 0.14%. As a group, equities analysts predict that Colabor Group Inc. will post 0.0199693 earnings per share for the current year.

Colabor Group Company Profile

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants and institutions (HRI) and retail market. Its products such as meat, fish, and sea food (Specialty Distribution) as well as general food related products (Broadline Distribution). The company generates maximum revenue from Distribution segment.