Home Capital Group (TSE:HCG) Hits New 52-Week Low Following Analyst Downgrade
Shares of Home Capital Group Inc (TSE:HCG) reached a new 52-week low during trading on Tuesday after Scotiabank lowered their price target on the stock from C$35.00 to C$19.00. The company traded as low as C$13.67 and last traded at C$14.51, with a volume of 640111 shares traded. The stock had previously closed at C$16.27.
Other analysts have also recently issued reports about the stock. Raymond James set a C$37.00 target price on shares of Home Capital Group and gave the stock a “market perform” rating in a research note on Thursday, November 28th. National Bank Financial lowered their target price on shares of Home Capital Group from C$37.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada cut shares of Home Capital Group from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from C$38.00 to C$18.00 in a research note on Thursday, March 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$25.29.
The firm’s 50 day simple moving average is C$27.03 and its 200 day simple moving average is C$29.46. The firm has a market capitalization of $768.39 million and a price-to-earnings ratio of 7.14.
About Home Capital Group (TSE:HCG)
Home Capital Group Inc, through its subsidiary, Home Trust Company, provides deposit, mortgage lending, retail credit, and credit card issuing services in Canada. It offers various deposit products, such as savings accounts; and single-family residential and insured residential lending, as well as residential and non-residential commercial mortgage lending services.
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