Zacks: Analysts Set $9.50 Price Target for Computer Task Group, Inc. (CTG)

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Shares of Computer Task Group, Inc. (NASDAQ:CTG) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation. Computer Task Group’s rating score has improved by 50% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a 1-year consensus price target of $9.50 for the company and are expecting that the company will post $0.08 EPS for the current quarter, according to Zacks. Zacks has also given Computer Task Group an industry rank of 204 out of 255 based on the ratings given to related companies.

Several research analysts have commented on the stock. Barrington Research upgraded shares of Computer Task Group from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Friday, June 15th. ValuEngine downgraded shares of Computer Task Group from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. Finally, Zacks Investment Research downgraded shares of Computer Task Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th.

Computer Task Group traded down $0.09, hitting $7.70, during trading on Friday, according to Marketbeat Ratings. 21,000 shares of the stock traded hands, compared to its average volume of 78,399. Computer Task Group has a twelve month low of $4.90 and a twelve month high of $9.62. The company has a market cap of $112.53 million, a P/E ratio of 35.41, a P/E/G ratio of 1.45 and a beta of 0.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Computer Task Group (NASDAQ:CTG) last announced its quarterly earnings data on Thursday, April 19th. The information technology services provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Computer Task Group had a net margin of 0.16% and a return on equity of 4.36%. The business had revenue of $82.79 million during the quarter, compared to the consensus estimate of $79.47 million. analysts expect that Computer Task Group will post 0.36 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Computer Task Group by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 842,237 shares of the information technology services provider’s stock worth $6,898,000 after buying an additional 47,670 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Computer Task Group by 17.4% during the fourth quarter. Renaissance Technologies LLC now owns 589,500 shares of the information technology services provider’s stock worth $3,006,000 after buying an additional 87,200 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Computer Task Group by 6.8% during the first quarter. Ancora Advisors LLC now owns 207,567 shares of the information technology services provider’s stock worth $1,700,000 after buying an additional 13,218 shares during the last quarter. Algert Global LLC grew its stake in shares of Computer Task Group by 5.2% during the first quarter. Algert Global LLC now owns 155,228 shares of the information technology services provider’s stock worth $1,271,000 after buying an additional 7,711 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Computer Task Group by 9,347.0% during the first quarter. JPMorgan Chase & Co. now owns 111,852 shares of the information technology services provider’s stock worth $916,000 after buying an additional 110,668 shares during the last quarter. 54.30% of the stock is currently owned by hedge funds and other institutional investors.

About Computer Task Group

Computer Task Group, Incorporated, together with its subsidiaries, operates as an information technology solutions and staffing services company in North America, Europe, and India. Its IT solutions include the implementation and optimization of packaged software applications; development and deployment of customized software and solutions designed to fit the needs of a specific client or market; and design and distribution of complex technology components, as well as offers consulting services.

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