Descartes Systems Group (NASDAQ:DSGX) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Several other brokerages also recently commented on DSGX. Royal Bank of Canada raised their price target on shares of Descartes Systems Group from $41.00 to $45.00 and gave the company an outperform rating in a report on Tuesday, May 28th. They noted that the move was a valuation call. CIBC downgraded shares of Descartes Systems Group from a sector outperform rating to a neutral rating in a report on Thursday, April 11th. Zacks Investment Research downgraded shares of Descartes Systems Group from a buy rating to a sell rating in a report on Monday, June 3rd. Raymond James raised their price target on shares of Descartes Systems Group from $33.00 to $36.00 and gave the company a market perform rating in a report on Thursday, May 30th. Finally, BMO Capital Markets reissued a market perform rating and issued a $43.00 price target on shares of Descartes Systems Group in a report on Thursday, May 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $42.86.

DSGX opened at $34.88 on Tuesday. The business has a 50 day simple moving average of $36.73. The company has a market cap of $2.93 billion, a P/E ratio of 87.20 and a beta of 0.67. Descartes Systems Group has a 12 month low of $25.19 and a 12 month high of $41.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.94 and a current ratio of 0.94.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The business had revenue of $78.00 million during the quarter, compared to the consensus estimate of $78.60 million. Descartes Systems Group had a return on equity of 5.96% and a net margin of 11.05%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. As a group, equities analysts anticipate that Descartes Systems Group will post 0.41 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Oak Ridge Investments LLC boosted its holdings in Descartes Systems Group by 3.0% in the 1st quarter. Oak Ridge Investments LLC now owns 452,669 shares of the technology company’s stock valued at $16,468,000 after purchasing an additional 13,036 shares during the period. Addenda Capital Inc. raised its position in shares of Descartes Systems Group by 4.4% during the 2nd quarter. Addenda Capital Inc. now owns 451,174 shares of the technology company’s stock valued at $16,728,000 after buying an additional 18,840 shares in the last quarter. Qtron Investments LLC purchased a new stake in shares of Descartes Systems Group during the 1st quarter valued at $275,000. CIBC World Markets Inc. raised its position in shares of Descartes Systems Group by 11.1% during the 1st quarter. CIBC World Markets Inc. now owns 43,639 shares of the technology company’s stock valued at $1,588,000 after buying an additional 4,352 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Descartes Systems Group by 55.8% during the 4th quarter. Deutsche Bank AG now owns 579,663 shares of the technology company’s stock valued at $15,337,000 after buying an additional 207,557 shares in the last quarter. 74.53% of the stock is owned by hedge funds and other institutional investors.

About Descartes Systems Group

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.

Featured Story: Treasury Bonds

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.