Cervus Equipment (TSE:CERV) Given New C$12.00 Price Target at Raymond James

Cervus Equipment (TSE:CERV) had its price objective cut by research analysts at Raymond James from C$16.00 to C$12.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 29.03% from the stock’s previous close.

A number of other brokerages have also recently commented on CERV. CIBC cut shares of Cervus Equipment from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$16.00 to C$13.00 in a research note on Monday. National Bank Financial cut shares of Cervus Equipment from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$16.00 to C$13.50 in a research note on Friday, August 9th. Finally, TD Securities lowered their price objective on shares of Cervus Equipment from C$15.50 to C$12.00 and set a “hold” rating on the stock in a research note on Monday.

TSE CERV traded down C$0.04 during trading hours on Wednesday, reaching C$9.30. The company’s stock had a trading volume of 13,320 shares, compared to its average volume of 8,112. The company has a market cap of $164.09 million and a PE ratio of 6.53. Cervus Equipment has a fifty-two week low of C$9.27 and a fifty-two week high of C$14.85. The business’s 50-day moving average price is C$11.43. The company has a debt-to-equity ratio of 149.04, a quick ratio of 0.28 and a current ratio of 1.69.

In other news, Director Peter Alan Lacey bought 16,000 shares of Cervus Equipment stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of C$11.72 per share, for a total transaction of C$187,520.00. Following the acquisition, the director now owns 33,511 shares in the company, valued at C$392,748.92.

Cervus Equipment Company Profile

Cervus Equipment Corporation engages in the sale, after-sale service, and maintenance of agricultural, transportation, and industrial equipment. It operates through three segments: Agricultural, Transportation, and Industrial Equipment. The Agricultural segment offers tractors, combine harvesting equipment, tillage, seeding, nutrient management and soil preparation machinery, sprayers, hay and forage equipment, material handling, integrated agricultural systems technology, precision agricultural irrigation equipment and supplies, lawn and garden tractors, compact utility tractors, zero-turn radius and front mowers, and utility vehicles; and associated implements for mowing, tilling, snow and debris handling, aerating, and other turf applications.

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