goeasy (TSE:GSY) Stock Crosses Below Fifty Day Moving Average – Here’s Why

goeasy Ltd. (TSE:GSY)’s share price crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$44.35 and traded as low as C$42.61. goeasy shares last traded at C$43.37, with a volume of 82,425 shares changing hands.

Analyst Upgrades and Downgrades

GSY has been the subject of several research reports. Desjardins boosted their price objective on shares of goeasy from C$38.00 to C$56.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Raymond James Financial boosted their price target on 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 lifted their price objective on goeasy from C$45.00 to C$51.00 in a research note on Monday, August 10th. 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. Finally, 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. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, goeasy presently has an average rating of “Reduce” and an average target price of C$42.89.

goeasy Stock Up 0.6%

The firm has a 50-day moving average of C$44.35 and a 200 day moving average of C$40.38. The stock has a market capitalization of C$695.39 million, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.33. The company has a current ratio of 22.81, a quick ratio of 28.46 and a debt-to-equity ratio of 558.73.

goeasy (TSE:GSY) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter. The company had revenue of C$390.04 million during the quarter. goeasy had a negative net margin of 20.21% and a negative return on equity of 37.13%. On average, sell-side analysts anticipate that goeasy Ltd. will post 20.3207343 earnings per share for the current year.

Insiders Place Their Bets

In other goeasy news, insider Courtenay Andrew Ames Plaunt sold 2,591 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$45.22, for a total value of C$117,165.02. Over the last three months, insiders have sold 4,837 shares of company stock valued at $217,486. Corporate 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.