goeasy (TSE:GSY) Stock Price Down 16.6% on Analyst Downgrade

goeasy Ltd. (TSE:GSY) was down 16.6% on Wednesday after Royal Bank Of Canada lowered their price target on the stock from C$35.00 to C$33.00. Royal Bank Of Canada currently has an underperform rating on the stock. goeasy traded as low as C$33.84 and last traded at C$37.50. Approximately 402,269 shares were traded during trading, an increase of 100% from the average session volume of 201,502 shares. The stock had previously closed at C$44.96.

Other research analysts also recently issued research reports about the stock. Raymond James Financial upped their target price on shares of goeasy from C$42.00 to C$45.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 21st. Desjardins downgraded shares of goeasy from a “buy” rating to a “hold” rating and cut their target price for the stock from C$56.00 to C$44.00 in a research report on Wednesday. Jefferies Financial Group boosted their price target on goeasy from C$45.00 to C$51.00 in a research note on Monday, August 10th. National Bank Financial reduced their price objective on goeasy from C$53.00 to C$44.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, ATB Cormark Capital Markets lowered goeasy from a “market perform” rating to an “underperform” rating and set a C$35.00 price objective for the company. in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of C$40.33.

Insider Buying and Selling at goeasy

In other news, insider Courtenay Andrew Ames Plaunt sold 2,591 shares of goeasy stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$45.22, for a total transaction of C$117,165.02. Over the last 90 days, insiders sold 4,837 shares of company stock worth $217,486. 22.05% of the stock is owned by insiders.

goeasy Stock Performance

The company has a current ratio of 24.16, a quick ratio of 28.46 and a debt-to-equity ratio of 567.75. The company has a market cap of C$633.02 million, a P/E ratio of -1.89, a PEG ratio of 0.84 and a beta of 1.29. The business’s 50 day simple moving average is C$43.48 and its 200 day simple moving average is C$52.33.

goeasy (TSE:GSY) last posted its quarterly earnings results on Tuesday, November 10th. The company reported C($0.94) earnings per share for the quarter. The firm had revenue of C$371.65 million during the quarter. goeasy had a negative return on equity of 48.47% and a negative net margin of 24.15%. Sell-side analysts predict that goeasy Ltd. will post 20.32 earnings per share for the current fiscal year.

About goeasy

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.