Today: Brokerages Set Evertec Inc. (EVTC) Target Price at $17.00

Today: Brokerages Set Evertec Inc. (EVTC) Target Price at $17.00

Shares of Evertec Inc. (NYSE:EVTC) have been given an average rating of “Hold” by the eight research firms that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.00.

A number of analysts recently weighed in on EVTC shares. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, September 28th. Deutsche Bank AG raised their price target on shares of Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Compass Point raised their price target on shares of Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 29th.

Shares of Evertec (NYSE:EVTC) opened at 15.80 on Friday. The stock has a 50 day moving average price of $16.63 and a 200-day moving average price of $15.59. Evertec has a 12-month low of $11.27 and a 12-month high of $19.26. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 13.80 and a beta of 1.12.

Evertec (NYSE:EVTC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business earned $97.70 million during the quarter, compared to analyst estimates of $93.40 million. Evertec had a net margin of 19.59% and a return on equity of 118.58%. Evertec’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts anticipate that Evertec will post $1.71 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in EVTC. Penserra Capital Management LLC raised its stake in Evertec by 5.6% in the second quarter. Penserra Capital Management LLC now owns 10,504 shares of the company’s stock worth $163,000 after buying an additional 556 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Evertec by 4.1% in the second quarter. Principal Financial Group Inc. now owns 16,990 shares of the company’s stock worth $264,000 after buying an additional 669 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Evertec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,042 shares of the company’s stock worth $141,000 after buying an additional 1,099 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Evertec by 1.2% in the second quarter. Teachers Advisors Inc. now owns 106,083 shares of the company’s stock worth $1,649,000 after buying an additional 1,282 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Evertec by 6.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,630 shares of the company’s stock worth $316,000 after buying an additional 1,330 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

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