Canadian Imperial Bank of Commerce Cuts Quarterhill (TSE:QTRH) Price Target to C$4.00

Quarterhill (TSE:QTRH) had its price objective lowered by Canadian Imperial Bank of Commerce from C$4.50 to C$4.00 in a report published on Wednesday,BayStreet reports.

Separately, ATB Cormark Capital Markets raised Quarterhill from an “outperform” rating to a “top pick” rating and lifted their target price for the company from C$4.40 to C$5.00 in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Quarterhill presently has a consensus rating of “Strong Buy” and an average price target of C$4.50.

Quarterhill Price Performance

Quarterhill stock opened at C$2.93 on Wednesday. The firm has a market capitalization of C$416.65 million, a price-to-earnings ratio of -6.81, a PEG ratio of 0.46 and a beta of -0.06. The company’s 50 day simple moving average is C$2.76 and its 200 day simple moving average is C$2.12. The company has a debt-to-equity ratio of 93.85, a current ratio of 1.19 and a quick ratio of 2.58. Quarterhill has a fifty-two week low of C$0.89 and a fifty-two week high of C$3.33.

Quarterhill (TSE:QTRH) last posted its earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%.The firm had revenue of C$60.40 million during the quarter. As a group, sell-side analysts anticipate that Quarterhill will post 0.0200567 EPS for the current year.

Insider Buying and Selling at Quarterhill

In related news, Director Stephen A. Smith bought 13,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of C$3.04 per share, with a total value of C$39,520.00. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at C$91,200. The trade was a 76.47% increase in their ownership of the stock. 1.72% of the stock is owned by insiders.

About Quarterhill

Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill’s platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill’s platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently.