Barrington Thinks Computer Task’s Stock is Going to Recover
Barrington analyst Vincent Colicchio maintained a Buy rating on Computer Task (NASDAQ: CTG) today and set a price target of $9. The company’s shares closed yesterday at $5.54, close to its 52-week low of $4.90.
“We have an OUTPERFORM investment rating on CTG shares and our 12-month price target is $9, which is based on 9.0x our 2019 non-GAAP EBITDA forecast of $14.3 million plus $4.3 million of net cash per share. We are upbeat on the story due to strong economic trends and better execution. The current management team has done a good job of rebuilding the pipeline and we believe the company is poised to generate solid growth over a multi-year period.”
According to TipRanks.com, Colicchio is a 4-star analyst with an average return of 9.7% and a 69.0% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Computer Task has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.
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Computer Task’s market cap is currently $86.15M and has a P/E ratio of 76.31. The company has a Price to Book ratio of 1.07.
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Computer Task Group, Inc. engages in the provision of information technology solutions and staffing services. The firm’s services encompass the information technology business solution life cycle, including phases for planning, developing, implementing, managing, and maintaining the information technology solution.