Colabor Group (TSE:GCL) Shares Up 17.6% – Here’s Why

Colabor Group Inc. (TSE:GCL) traded up 17.6% during mid-day trading on Friday . The stock traded as high as C$0.22 and last traded at C$0.20. 255,498 shares traded hands during trading, an increase of 85% from the average session volume of 138,145 shares. The stock had previously closed at C$0.17.

Analysts Set New Price Targets

GCL has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of Colabor Group to a “hold” rating in a report on Monday, October 20th. Desjardins decreased their price objective on shares of Colabor Group from C$1.50 to C$0.50 and set a “buy” rating for the company in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Colabor Group currently has a consensus rating of “Moderate Buy” and an average target price of C$1.00.

Colabor Group Stock Performance

The firm’s fifty day moving average is C$0.53 and its 200 day moving average is C$0.73. The firm has a market capitalization of C$20.40 million, a price-to-earnings ratio of -0.26, a PEG ratio of 0.61 and a beta of -0.19. The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76.

About Colabor Group

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants and institutions (HRI) and retail market.