Colabor Group (TSE:GCL) Trading Down 14.3% – Here’s Why

Colabor Group Inc. (TSE:GCL)’s stock price traded down 14.3% during mid-day trading on Wednesday . The stock traded as low as C$0.03 and last traded at C$0.03. 529,641 shares were traded during mid-day trading, an increase of 160% from the average session volume of 203,814 shares. The stock had previously closed at C$0.04.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Desjardins cut their target price on Colabor Group from C$1.50 to C$0.50 and set a “buy” rating on the stock in a research report on Monday, October 20th. Raymond James Financial raised shares of Colabor Group to a “hold” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$1.00.

Colabor Group Stock Performance

The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61. The business has a 50 day moving average price of C$0.22 and a 200 day moving average price of C$0.59. The stock has a market cap of C$3.57 million, a P/E ratio of -0.04, a PEG ratio of 0.61 and a beta of -0.32.

Colabor Group (TSE:GCL) last issued its quarterly earnings results on Friday, October 17th. The company reported C($0.73) earnings per share (EPS) for the quarter. The business had revenue of C$212.47 million for the quarter. Colabor Group had a return on equity of 0.83% and a net margin of 0.14%. As a group, sell-side analysts expect that Colabor Group Inc. will post 0.0199693 EPS for the current year.

About Colabor Group

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants and institutions (HRI) and retail market. Its products such as meat, fish, and sea food (Specialty Distribution) as well as general food related products (Broadline Distribution). The company generates maximum revenue from Distribution segment.