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

goeasy Ltd. (TSE:GSY) shares passed 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 changing hands.

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

Insiders Place Their Bets

In other goeasy news, insider Courtenay Andrew Ames Plaunt sold 979 shares of goeasy stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$45.22, for a total transaction of C$44,270.38. Following the completion of the sale, the insider directly owned 505 shares in the company, valued at C$22,836.10. The trade was a 65.97% decrease in their ownership of the stock. Insiders have sold 4,837 shares of company stock valued at $217,486 over the last quarter. Company insiders own 22.05% of the company’s stock.

goeasy Stock Performance

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

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.