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CGI Group (NYSE:GIB)‘s stock had its “sell” rating reaffirmed by equities researchers at Deutsche Bank in a research report issued on Tuesday, reports. They currently have a $24.00 target price on the stock. Deutsche Bank’s target price points to a potential downside of 27.71% from the company’s current price.

Shares of CGI Group (NYSE:GIB) traded up 0.24% during mid-day trading on Tuesday, hitting $33.17. 264,567 shares of the company’s stock traded hands. CGI Group has a 52-week low of $25.64 and a 52-week high of $39.47. The stock’s 50-day moving average is $31.7 and its 200-day moving average is $33.3. The company has a market cap of $10.204 billion and a P/E ratio of 16.50.

CGI Group (NYSE:GIB) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.05. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that CGI Group will post $2.82 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group upgraded shares of CGI Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. They now have a $43.00 price target on the stock, up previously from $34.00. Separately, analysts at CIBC upgraded shares of CGI Group from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $36.26.

CGI Group Inc (NYSE:GIB) is a Canada-based company, which provides information technology (IT) solutions, systems integration, IT outsourcing and business solutions.

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