goeasy (TSE:GSY) Stock Price Breaks Below 50 Day Moving Average – What’s Next?

goeasy Ltd. (TSE:GSY) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of C$43.58 and traded as low as C$42.90. goeasy shares last traded at C$43.93, with a volume of 49,074 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Desjardins lifted their price target on shares of goeasy from C$38.00 to C$56.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. National Bank Financial increased 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. Raymond James Financial increased 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 research report on Tuesday, July 21st. Jefferies Financial Group raised their target price on shares of 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 target price for the company. in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, goeasy has a consensus rating of “Reduce” and an average target price of C$42.89.

goeasy Stock Up 0.3%

The company has a quick ratio of 28.46, a current ratio of 22.81 and a debt-to-equity ratio of 558.73. The company has a market cap of C$704.37 million, a P/E ratio of -2.10, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The company has a fifty day moving average of C$43.58 and a 200 day moving average of C$40.69.

goeasy (TSE:GSY) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.02 EPS for the quarter. goeasy had a negative return on equity of 37.13% and a negative net margin of 20.21%. The company had revenue of C$390.04 million during the quarter. On average, research analysts anticipate that goeasy Ltd. will post 20.32 earnings per share for the current fiscal year.

Insider Activity

In other goeasy news, insider Courtenay Andrew Ames Plaunt sold 979 shares of the business’s 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$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 position. In the last ninety days, insiders sold 4,837 shares of company stock worth $217,486. Insiders own 22.05% of the company’s stock.

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.