goeasy (TSE:GSY) Stock Falls 16.6% – What’s Next?

goeasy Ltd. (TSE:GSY) fell 16.6% during trading on Wednesday. The stock traded as low as C$33.84 and last traded at C$37.50. 402,269 shares were traded during mid-day trading, an increase of 100% from the average daily volume of 201,502 shares. The stock had previously closed at C$44.96.

Analysts Set New Price Targets

A number of research firms have weighed in on GSY. Royal Bank Of Canada lifted their target price on goeasy from C$30.00 to C$35.00 in a report on Monday, August 10th. Raymond James Financial raised 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 boosted their price objective on shares of goeasy from C$45.00 to C$51.00 in a research note on Monday, August 10th. Desjardins upped their target price on shares of goeasy from C$38.00 to C$56.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, 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 note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of C$42.89.

goeasy Stock Performance

The company has a 50 day simple moving average of C$43.68 and a 200-day simple moving average of C$53.24. The stock has a market cap of C$601.11 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 debt-to-equity ratio of 558.73, a current ratio of 22.81 and a quick ratio of 28.46.

Insider Activity

In related news, insider Courtenay Andrew Ames Plaunt sold 979 shares of the stock in a transaction 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 transaction, the insider owned 505 shares of the company’s stock, valued at approximately C$22,836.10. This trade represents a 65.97% decrease in their position. Over the last three months, insiders have sold 4,837 shares of company stock valued at $217,486. 22.05% of the stock is currently owned by corporate insiders.

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.