TD Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its target price boosted by equities researchers at TD from C$123.00 to C$154.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price objective would indicate a potential upside of 9.03% from the company’s previous close.

Several other analysts also recently weighed in on EQB. National Bank Financial increased their target price on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research note on Thursday. Raymond James Financial lifted their price target on EQB from C$123.00 to C$136.00 and gave the stock a “sector perform” rating in a research report on Thursday. Desjardins upped their price target on EQB from C$132.00 to C$155.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Scotiabank increased their price objective on EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group raised their price objective on shares of EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$133.20.

EQB Price Performance

TSE:EQB traded up C$2.37 during midday trading on Friday, reaching C$141.25. The stock had a trading volume of 44,208 shares, compared to its average volume of 118,020. The stock has a market capitalization of C$5.01 billion, a P/E ratio of 27.75, a PEG ratio of 0.34 and a beta of 0.92. EQB has a 1-year low of C$83.93 and a 1-year high of C$150.32. The firm’s fifty day simple moving average is C$133.88 and its 200-day simple moving average is C$121.72.

EQB (TSE:EQB) last released its earnings results on Wednesday, May 27th. The company reported C$2.03 earnings per share for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The firm had revenue of C$302.36 million during the quarter. On average, equities research analysts anticipate that EQB will post 12.5988235 earnings per share for the current fiscal year.

Insider Transactions at EQB

In related news, insider Gavin Stanley sold 900 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total value of C$123,633.00. Following the completion of the transaction, the insider directly owned 2,238 shares of the company’s stock, valued at C$307,434.06. This trade represents a 28.68% decrease in their ownership of the stock. Also, insider Loblaw Companies Limited bought 8,000 shares of EQB stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of C$137.62 per share, with a total value of C$1,100,960.00. Following the completion of the transaction, the insider owned 1,346,100 shares of the company’s stock, valued at C$185,250,282. This trade represents a 0.60% increase in their ownership of the stock. In the last quarter, insiders have bought 38,100 shares of company stock valued at $5,407,348 and have sold 7,484 shares valued at $1,069,719. 29.02% of the stock is owned by insiders.

EQB Company Profile

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.