Trading Report: Today: The Descartes Systems Group Inc. (DSGX) Earns “Outperform” Rating from RBC Capital Markets

Today: The Descartes Systems Group Inc. (DSGX) Earns “Outperform” Rating from RBC Capital Markets

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG)‘s stock had its “outperform” rating reaffirmed by investment analysts at RBC Capital Markets in a research note issued to investors on Monday. They presently have a $34.00 price objective on the stock. RBC Capital Markets’ price target points to a potential upside of 50.78% from the stock’s previous close.

Several other equities analysts have also commented on DSGX. Scotiabank reissued an “outperform” rating and issued a $29.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 1st. Royal Bank Of Canada raised their target price on shares of The Descartes Systems Group from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 9th. Barclays PLC raised their target price on shares of The Descartes Systems Group from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 9th. BMO Capital Markets restated a “hold” rating and issued a $22.00 price target on shares of The Descartes Systems Group in a research note on Friday, September 9th. Finally, Morgan Stanley restated a “hold” rating and issued a $23.00 price target on shares of The Descartes Systems Group in a research note on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.65.

Shares of The Descartes Systems Group (NASDAQ:DSGX) traded up 0.22% during midday trading on Monday, reaching $22.40. 25,693 shares of the company’s stock traded hands. The stock has a market cap of $1.70 billion, a P/E ratio of 77.24 and a beta of 0.68. The Descartes Systems Group has a 52-week low of $15.01 and a 52-week high of $22.90. The stock has a 50-day moving average price of $21.17 and a 200-day moving average price of $20.47.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of The Descartes Systems Group during the second quarter worth about $99,747,000. The Manufacturers Life Insurance Company purchased a new position in shares of The Descartes Systems Group during the third quarter worth about $42,327,000. Wellington Management Group LLP purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $13,285,000. Mackenzie Financial Corp purchased a new position in shares of The Descartes Systems Group during the second quarter worth about $11,852,000. Finally, Vanguard Group Inc. increased its position in shares of The Descartes Systems Group by 44.4% in the second quarter. Vanguard Group Inc. now owns 1,283,125 shares of the company’s stock worth $24,496,000 after buying an additional 394,561 shares during the period. Hedge funds and other institutional investors own 79.23% of the company’s stock.

About The Descartes Systems Group

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