B. Riley Analysts Give Computer Task Group (CTG) a $10.00 Price Target

B. Riley set a $10.00 price objective on Computer Task Group (NASDAQ:CTG) in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the information technology services provider’s stock. B. Riley also issued estimates for Computer Task Group’s Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.28 EPS, Q1 2019 earnings at $0.10 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.08 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.45 EPS.

CTG has been the subject of several other reports. Zacks Investment Research lowered Computer Task Group from a buy rating to a hold rating in a report on Tuesday, July 24th. ValuEngine raised Computer Task Group from a hold rating to a buy rating in a report on Monday, July 2nd. Finally, Barrington Research reissued a buy rating and issued a $9.00 price objective on shares of Computer Task Group in a report on Monday, October 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Computer Task Group presently has an average rating of Hold and an average target price of $9.33.

Shares of NASDAQ CTG traded down $0.09 during midday trading on Friday, reaching $4.83. 26,847 shares of the company’s stock were exchanged, compared to its average volume of 36,532. Computer Task Group has a 52-week low of $4.83 and a 52-week high of $9.62. The firm has a market cap of $71.20 million, a price-to-earnings ratio of 21.95, a PEG ratio of 1.13 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.41.

Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings data on Thursday, October 18th. The information technology services provider reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $90.26 million during the quarter, compared to analyst estimates of $88.62 million. Computer Task Group had a return on equity of 5.01% and a net margin of 0.62%. As a group, research analysts predict that Computer Task Group will post 0.29 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Granahan Investment Management Inc. MA boosted its stake in Computer Task Group by 15.9% in the second quarter. Granahan Investment Management Inc. MA now owns 302,467 shares of the information technology services provider’s stock valued at $2,341,000 after acquiring an additional 41,384 shares during the period. Renaissance Technologies LLC boosted its stake in Computer Task Group by 15.7% in the second quarter. Renaissance Technologies LLC now owns 984,300 shares of the information technology services provider’s stock valued at $7,618,000 after acquiring an additional 133,700 shares during the period. Algert Global LLC boosted its stake in Computer Task Group by 23.2% in the second quarter. Algert Global LLC now owns 191,216 shares of the information technology services provider’s stock valued at $1,480,000 after acquiring an additional 35,988 shares during the period. Millennium Management LLC acquired a new position in Computer Task Group in the first quarter valued at approximately $271,000. Finally, Cove Street Capital LLC acquired a new position in Computer Task Group in the second quarter valued at approximately $604,000. Institutional investors own 51.04% of the company’s stock.

Computer Task Group Company Profile

Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.

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