ATB Cormark Capital Markets Upgrades Quarterhill (TSE:QTRH) to “Top Pick”

Quarterhill (TSE:QTRH) was upgraded by research analysts at ATB Cormark Capital Markets from an “outperform” rating to a “top pick” rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$5.00 price target on the stock, up from their prior price target of C$4.40. ATB Cormark Capital Markets’ price objective suggests a potential upside of 93.05% from the stock’s current price.

Quarterhill Price Performance

Quarterhill stock traded up C$0.19 during mid-day trading on Wednesday, reaching C$2.59. 111,570 shares of the company were exchanged, compared to its average volume of 218,533. The firm has a market cap of C$310.75 million, a PE ratio of -5.85, a PEG ratio of 0.46 and a beta of 0.08. The company has a debt-to-equity ratio of 72.54, a current ratio of 0.94 and a quick ratio of 2.58. The company has a fifty day simple moving average of C$2.14 and a 200-day simple moving average of C$1.51. Quarterhill has a 12 month low of C$0.89 and a 12 month high of C$2.78.

Quarterhill (TSE:QTRH) last released its earnings results on Thursday, May 14th. The company reported C($0.06) earnings per share for the quarter. The company had revenue of C$53.68 million for the quarter. Quarterhill had a negative net margin of 33.64% and a negative return on equity of 50.09%. As a group, equities research analysts expect that Quarterhill will post 0.0200567 earnings per share for the current fiscal year.

Insider Transactions at Quarterhill

In other news, Director Iii Burland Bland East acquired 17,000 shares of Quarterhill stock in a transaction on Wednesday, May 27th. The shares were purchased at an average cost of C$1.84 per share, for a total transaction of C$31,280.00. Following the completion of the purchase, the director directly owned 154,500 shares of the company’s stock, valued at approximately C$284,280. This represents a 12.36% increase in their position. 1.72% of the stock is owned by insiders.

Quarterhill Company Profile

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.