Descartes Systems Group (NASDAQ:DSGX) Downgraded to “Buy” at ValuEngine

ValuEngine cut shares of Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) from a strong-buy rating to a buy rating in a research note published on Thursday, ValuEngine reports.

A number of other analysts have also recently issued reports on the company. Raymond James boosted their price objective on Descartes Systems Group from $33.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, May 30th. Zacks Investment Research cut Descartes Systems Group from a buy rating to a sell rating in a research report on Monday, June 3rd. Stephens began coverage on Descartes Systems Group in a research report on Monday, July 1st. They set an equal weight rating and a $40.00 price objective on the stock. Haywood Securities set a $44.00 price objective on Descartes Systems Group and gave the company a buy rating in a research report on Wednesday, June 5th. Finally, TD Securities initiated coverage on Descartes Systems Group in a research report on Tuesday, June 11th. They issued a buy rating and a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $42.86.

Shares of DSGX traded down $0.73 on Thursday, reaching $35.57. 71,173 shares of the stock traded hands, compared to its average volume of 100,874. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 88.93 and a beta of 0.67. 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 has a 12 month low of $25.19 and a 12 month high of $41.60. The stock’s 50-day moving average is $37.17.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The firm had revenue of $78.00 million for the quarter, compared to the consensus estimate of $78.60 million. Descartes Systems Group had a net margin of 11.05% and a return on equity of 5.96%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, equities research 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. Marshall Wace North America L.P. bought a new stake in Descartes Systems Group in the first quarter valued at $142,000. Enterprise Financial Services Corp bought a new stake in shares of Descartes Systems Group during the first quarter worth $146,000. Centaurus Financial Inc. grew its holdings in shares of Descartes Systems Group by 21.6% during the first quarter. Centaurus Financial Inc. now owns 4,249 shares of the technology company’s stock worth $117,000 after purchasing an additional 754 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Descartes Systems Group by 12.1% during the fourth quarter. Advisor Group Inc. now owns 4,990 shares of the technology company’s stock worth $132,000 after purchasing an additional 537 shares during the last quarter. Finally, Marco Investment Management LLC bought a new stake in shares of Descartes Systems Group during the first quarter worth $211,000. Hedge funds and other institutional investors own 74.53% 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.

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Analyst Recommendations for Descartes Systems Group (NASDAQ:DSGX)

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