Quarterhill (QTRHF) Receives a Buy from Canaccord Genuity

By Jason Carr

Canaccord Genuity analyst Doug Taylor assigned a Buy rating to Quarterhill (QTRHFResearch Report) yesterday and set a price target of C$2.40. The company’s shares closed last Thursday at $1.41, close to its 52-week high of $1.59.

According to TipRanks.com, Taylor is ranked #1692 out of 6616 analysts.

Currently, the analyst consensus on Quarterhill is a Moderate Buy with an average price target of $2.36, representing a 68.6% upside. In a report issued on May 20, M Partners also reiterated a Buy rating on the stock with a $3.00 price target.

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Quarterhill’s market cap is currently $167.4M and has a P/E ratio of 15.90. The company has a Price to Book ratio of 1.54.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QTRHF in relation to earlier this year.

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Quarterhill, Inc. engages in the acquisition and management of technology companies offering products and services. It operates through the following segments: Licensing, Systems, Services, and Recurring. The Licensing segment focuses in technology licenses, perpetual software licenses, and other revenues characterized as one-time licenses. The Systems segment comprises contracted projects and OEM products which are distributed directly and through a network of distributor/agency relationships. The services segment consists professional services sold on a time and material consulting basis. The Recurring segments comprises service and maintenance contracts, software maintenance contracts, hosted software as a service applications, revenues from running royalties, and data analytics services. The company was founded by Michel Tewfik Fattouche and Hatim Zaghloul on May 14, 1992 and is headquartered in Kitchener, Canada.