In the News: Buy high, Sell low... Still listening?
Globe says RBC's Arthur sees limited upside in Avigilon
2015-03-05 06:33 ET - In the News
The Globe and Mail reports in its Thursday, March 5, edition that RBC Dominion Securities analyst Steve Arthur believes Avigilon ($20.88) is due for a breather after its massive rally over the past four months. The Globe's David Kennedy writes in the Eye On Equities column that Avigilon designs and manufactures video surveillance software and equipment. It released fourth quarter results after the close on Tuesday, with adjusted earnings per share of 25 cents coming in three cents above the consensus estimate, while revenues of $79.5-million were below what analysts had anticipated. Mr. Arthur sees limited upside for the stock. Mr. Arthur cut his rating on the shares to "sector perform" from "outperform." As well, he trimmed his price target to $26 from $27. Analysts at National Bank also downgraded the company to "sector perform" from "outperform." The average analyst price target is $28.71. CIBC analyst Robin Manson-Hing slashed his target on Avigilon to $25 from $40 in the Eye column on Oct. 10, 2014. The shares were then worth $14.74. Mr. Manson-Hing reiterated his "sector outperformer" rating for Avigilon in the Eye column on Feb. 12, 2015. The shares were then worth $24.42.
Globe says Avigilon boosted to "outperform"
2014-11-06 07:19 ET - In the News
The Globe and Mail reports in its Thursday, Nov. 6, edition that Avigilon's ($19.60) stock has become difficult to ignore after a 55-per-cent drop from its year-to-date high to Tuesday's close, says RBC Dominion Securities analyst Steve Arthur. The Globe's Tim Shufelt and Jody White write in the Eye On Equities column that management changes and earnings volatility have weighed heavily on the company, which makes surveillance equipment. While the valuation, however, has been beaten up, Avigilon is "not a broken business," says Mr. Arthur. He says: "Operationally, the business is performing. ...Avigilon continues to introduce new products and integrate acquisitions to round out its broader video surveillance solution. The value proposition to the customer remains the same: a highly capable, easy-to-use video surveillance solution offered at an attractive price." Mr. Arthur upgraded the stock to "outperform" from "sector perform" and raised his target price to $24 from $23. The analyst consensus price target, according to Thomson Reuters, is $28.05. Cantor Fitzgerald Canada analyst Justin Kew maintained Avigilon at "buy" in the Eye column on Sept. 12. The shares were then worth $20.