Descartes Systems Group (DSGX) Downgraded by BidaskClub to “Hold”

Share on StockTwits

BidaskClub downgraded shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a buy rating to a hold rating in a research note released on Saturday morning.

DSGX has been the topic of several other research reports. Morgan Stanley lifted their price objective on Descartes Systems Group from $31.00 to $33.00 and gave the stock an equal weight rating in a report on Friday, June 1st. Canaccord Genuity lifted their price objective on Descartes Systems Group from $34.00 to $35.00 and gave the stock a buy rating in a report on Thursday, May 31st. Barclays lifted their price objective on Descartes Systems Group from $33.00 to $35.00 and gave the stock an overweight rating in a report on Thursday, May 31st. Zacks Investment Research upgraded Descartes Systems Group from a sell rating to a hold rating in a report on Wednesday. Finally, TD Securities lifted their price objective on Descartes Systems Group from $35.00 to $36.00 and gave the stock a buy rating in a report on Thursday, May 31st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $34.33.

Shares of DSGX stock opened at $33.05 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.09 and a quick ratio of 1.09. Descartes Systems Group has a 12-month low of $24.85 and a 12-month high of $34.90. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 94.43 and a beta of 0.43.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 30th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.70 million. Descartes Systems Group had a return on equity of 5.55% and a net margin of 10.81%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. equities research analysts anticipate that Descartes Systems Group will post 0.44 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Bank of Nova Scotia increased its holdings in Descartes Systems Group by 18.1% during the 2nd quarter. Bank of Nova Scotia now owns 305,750 shares of the technology company’s stock valued at $9,926,000 after purchasing an additional 46,826 shares during the period. Centaurus Financial Inc. increased its holdings in Descartes Systems Group by 13.5% during the 2nd quarter. Centaurus Financial Inc. now owns 138,640 shares of the technology company’s stock valued at $4,506,000 after purchasing an additional 16,468 shares during the period. Macquarie Group Ltd. increased its holdings in Descartes Systems Group by 9.8% during the 2nd quarter. Macquarie Group Ltd. now owns 213,197 shares of the technology company’s stock valued at $6,942,000 after purchasing an additional 19,000 shares during the period. Bank of America Corp DE increased its holdings in Descartes Systems Group by 137.7% during the 2nd quarter. Bank of America Corp DE now owns 26,927 shares of the technology company’s stock valued at $875,000 after purchasing an additional 15,599 shares during the period. Finally, Oak Ridge Investments LLC purchased a new position in Descartes Systems Group during the 2nd quarter valued at about $18,345,000. Institutional investors own 79.16% of the company’s stock.

Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

Read More: How to Invest in Marijuana Stocks

Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

Receive News & Ratings for Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply