ZCL Composites Inc. (ZCL) Stock Rating Lowered by Raymond James Financial, Inc.

ZCL Composites Inc. (TSE:ZCL) was downgraded by equities research analysts at Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Friday. They presently have a C$14.50 price target on the stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 4.32% from the company’s current price.

Separately, Paradigm Capital cut 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 down 6.55% during mid-day trading on Friday, reaching $12.99. 445,157 shares of the company’s stock were exchanged. ZCL Composites has a one year low of $8.20 and a one year high of $15.47. The company has a 50 day moving average price of $14.29 and a 200-day moving average price of $12.78. The stock has a market cap of $399.91 million and a PE ratio of 26.73.

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In related news, Director Darcy Morris sold 145,000 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of C$13.58, for a total transaction of C$1,969,100.00. Also, insider Katherine Lynne Demuth purchased 15,000 shares of ZCL Composites stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of C$13.32 per share, for a total transaction of C$199,800.00. In the last quarter, insiders have purchased 28,455 shares of company stock worth $300,727 and have sold 384,000 shares worth $5,368,970.

ZCL Composites Company Profile

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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