Raymond James Financial, Inc. Upgrades ZCL Composites Inc. (ZCL) to Outperform
ZCL Composites Inc. (TSE:ZCL) was upgraded by research analysts at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a report issued on Thursday. The firm presently has a C$14.50 price target on the stock. Raymond James Financial, Inc.’s target price indicates a potential upside of 16.84% from the company’s current price.
Separately, Paradigm Capital downgraded shares of ZCL Composites from a “buy” rating to a “hold” rating in a research report on Friday, March 10th.
Shares of ZCL Composites (TSE:ZCL) traded up 1.69% during midday trading on Thursday, hitting $12.62. 56,327 shares of the stock were exchanged. ZCL Composites has a 12 month low of $8.71 and a 12 month high of $15.47. The stock has a 50 day moving average price of $12.97 and a 200-day moving average price of $13.06. The company has a market cap of $391.28 million and a PE ratio of 26.35.
In other ZCL Composites news, Director Darcy Morris sold 223,500 shares of the firm’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of C$14.20, for a total transaction of C$3,173,700.00. Also, Director Ronald Marvin Bachmeier acquired 2,329 shares of the stock in a transaction on Thursday, June 15th. The shares were acquired at an average cost of C$12.72 per share, for a total transaction of C$29,624.88. Insiders have sold a total of 383,000 shares of company stock worth $5,355,370 over the last three months.
About ZCL Composites
ZCL Composites Inc (ZCL) is a Canada-based manufacturer and supplier of fiberglass reinforced plastic (FRP) underground storage tanks. The Company also provides custom-engineered aboveground FRP and dual-laminate composite storage tanks, piping and lining systems, and related products and accessories, where corrosion resistance is a high priority.
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