Jefferies Financial Group Cuts EQB (TSE:EQB) Price Target to C$127.00

Key Points

• Jefferies cut EQB’s price target to C$127 from C$128, implying roughly 5% downside from the previous close.
• Analyst sentiment remains mixed: EQB has a consensus “Hold” rating and an average price target of C$139.10, with six Buy, four Hold, and one Sell rating.
• EQB shares rose to C$133.67, while the company reported C$2.12 in quarterly EPS and C$393.04 million in revenue. Insiders have been net buyers over the past quarter, purchasing 78,100 shares versus 7,484 sold.

EQB (TSE:EQB - Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from C$128.00 to C$127.00 in a report released on Thursday, BayStreet reports. Jefferies Financial Group's price objective would suggest a potential downside of 4.99% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada raised their price target on shares of EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. TD boosted their price objective on shares of EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Desjardins decreased their price objective on EQB from C$155.00 to C$150.00 and set a "buy" rating for the company in a report on Friday, August 28th. Raymond James Financial downgraded EQB from a "hold" rating to a "strong sell" rating and cut their target price for the stock from C$136.00 to C$120.00 in a report on Friday, August 28th. Finally, National Bank Financial upped their price target on EQB from C$120.00 to C$143.00 and gave the company a "sector perform" rating in a research report on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, EQB presently has a consensus rating of "Hold" and an average price target of C$139.10.

EQB Price Performance

TSE EQB traded up C$5.03 during trading hours on Thursday, reaching C$133.67. The company's stock had a trading volume of 38,785 shares, compared to its average volume of 121,611. The firm has a fifty day simple moving average of C$137.01 and a 200-day simple moving average of C$123.88. The stock has a market cap of C$5.69 billion, a P/E ratio of -477.39, a P/E/G ratio of 0.34 and a beta of 0.92. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32.

EQB (TSE:EQB - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The business had revenue of C$393.04 million for the quarter. On average, research analysts expect that EQB will post 12.5988235 earnings per share for the current year.

Insider Buying and Selling at EQB

In related news, Director Darren Lorimer sold 750 shares of the business's stock in a transaction on Thursday, July 16th. The shares were sold at an average price of C$149.24, for a total value of C$111,930.00. Following the transaction, the director owned 6,988 shares in the company, valued at C$1,042,889.12. The trade was a 9.69% decrease in their ownership of the stock. Also, insider Loblaw Companies Limited purchased 16,000 shares of the business's stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the transaction, the insider directly owned 1,474,100 shares of the company's stock, valued at approximately C$184,129,831. The trade was a 1.10% increase in their position. Over the last quarter, insiders have bought 78,100 shares of company stock valued at $10,641,748 and have sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company's stock.

EQB Company Profile

EQB Inc TSX: EQB is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.

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