goeasy (TSE:GSY) Stock Breaks Below 50 Day Moving Average on Analyst Downgrade

Shares of goeasy Ltd. (TSE:GSY) crossed below its 50 day moving average during trading on Wednesday after Desjardins downgraded the stock from a buy rating to a hold rating. The stock has a 50 day moving average of C$43.57 and traded as low as C$33.84. Desjardins now has a C$44.00 price target on the stock, down from their previous price target of C$56.00. goeasy shares last traded at C$37.61, with a volume of 691,564 shares traded.

Several other equities research analysts have also recently commented on GSY. National Bank Financial boosted their price objective on shares of goeasy from C$43.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Royal Bank Of Canada increased their target price on goeasy from C$30.00 to C$35.00 in a report on Monday, August 10th. Raymond James Financial lifted their price objective on shares of goeasy from C$42.00 to C$45.00 and gave the company a “market perform” rating in a report on Tuesday, July 21st. Jefferies Financial Group upped their target price on goeasy from C$45.00 to C$51.00 in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets downgraded shares of goeasy from a “market perform” rating to an “underperform” rating and set a C$35.00 price objective for the company. in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, goeasy has a consensus rating of “Reduce” and an average target price of C$41.56.

Insider Activity at goeasy

In related news, insider Courtenay Andrew Ames Plaunt sold 2,591 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$45.22, for a total value of C$117,165.02. Insiders have sold 4,837 shares of company stock valued at $217,486 in the last 90 days. Corporate insiders own 22.05% of the company’s stock.

goeasy Price Performance

The stock has a market cap of C$603.04 million, a P/E ratio of -1.80, a PEG ratio of 0.84 and a beta of 1.29. The company has a debt-to-equity ratio of 558.73, a current ratio of 22.81 and a quick ratio of 28.46. The business’s fifty day moving average price is C$43.57 and its 200 day moving average price is C$52.78.

goeasy Company Profile

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members’ dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture.