Royal Bank of Canada Trims CGI (TSE:GIB.A) Target Price to C$163.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective trimmed by Royal Bank of Canada from C$170.00 to C$163.00 in a report released on Thursday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on the stock. TD Securities downgraded shares of CGI from a buy rating to a hold rating and decreased their price objective for the stock from C$170.00 to C$165.00 in a research report on Friday, March 22nd. CIBC increased their price target on CGI from C$155.00 to C$169.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Canaccord Genuity Group cut their price objective on CGI from C$166.00 to C$160.00 and set a buy rating for the company in a research report on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of CGI from C$160.00 to C$170.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Finally, Raymond James boosted their price target on shares of CGI from C$150.00 to C$167.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI has an average rating of Buy and a consensus target price of C$161.27.

CGI Stock Performance

Shares of TSE:GIB.A traded up C$2.18 during trading on Thursday, hitting C$141.86. 277,786 shares of the stock traded hands, compared to its average volume of 306,848. The company has a fifty day moving average price of C$149.73 and a two-hundred day moving average price of C$144.85. CGI has a 52-week low of C$127.73 and a 52-week high of C$160.40. The company has a market cap of C$29.27 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.48 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 34.93.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.