CGI (TSE:GIB.A) Downgraded by CIBC to Neutral

CIBC lowered shares of CGI (TSE:GIB.A) (NYSE:GIB) from an outperform rating to a neutral rating in a report issued on Friday morning, BayStreet.CA reports. CIBC currently has C$151.00 target price on the stock, down from their previous target price of C$165.00.

GIB.A has been the subject of a number of other research reports. Sanford C. Bernstein upped their price objective on shares of CGI from C$126.00 to C$127.00 in a report on Thursday, May 2nd. BMO Capital Markets dropped their price target on shares of CGI from C$170.00 to C$160.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. Canaccord Genuity Group reduced their price target on shares of CGI from C$166.00 to C$160.00 and set a buy rating on the stock in a research report on Friday, April 26th. TD Securities upgraded CGI from a hold rating to a buy rating and decreased their price objective for the company from C$165.00 to C$160.00 in a report on Thursday, May 2nd. Finally, Royal Bank of Canada cut their target price on CGI from C$170.00 to C$163.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$160.00.

CGI Stock Performance

TSE GIB.A opened at C$136.08 on Friday. CGI has a fifty-two week low of C$127.73 and a fifty-two week high of C$160.40. The firm has a market capitalization of C$28.00 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The stock’s fifty day moving average is C$139.89 and its two-hundred day moving average is C$145.53. The company has a debt-to-equity ratio of 34.26, a quick ratio of 0.97 and a current ratio of 1.17.

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.