Royal Bank of Canada Cuts Equitable Group (TSE:EQB) Price Target to C$80.00

Equitable Group (TSE:EQBGet Rating) had its target price reduced by Royal Bank of Canada from C$85.00 to C$80.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 35.89% from the stock’s current price.

EQB has been the subject of several other reports. Raymond James decreased their target price on shares of Equitable Group from C$88.50 to C$85.00 and set an “outperform” rating for the company in a research note on Monday, April 11th. Scotiabank reduced their price objective on shares of Equitable Group from C$94.00 to C$79.00 in a research note on Monday, May 9th. Cormark reduced their price objective on shares of Equitable Group from C$105.00 to C$88.00 and set a “buy” rating on the stock in a research note on Thursday, April 28th. TD Securities reduced their price objective on shares of Equitable Group from C$85.00 to C$80.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, National Bankshares increased their price objective on shares of Equitable Group from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$73.21.

Shares of EQB stock opened at C$58.87 on Thursday. The company has a market capitalization of C$2.01 billion and a PE ratio of 7.04. The firm has a fifty day simple moving average of C$66.23 and a 200-day simple moving average of C$71.58. Equitable Group has a twelve month low of C$51.73 and a twelve month high of C$84.78.

In related news, Director Ronald Walter Tratch sold 6,310 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of C$77.00, for a total value of C$485,870.00. Following the sale, the director now owns 3,023 shares of the company’s stock, valued at approximately C$232,771. Also, Senior Officer Andrew Moor sold 1,300 shares of the stock in a transaction dated Friday, February 25th. The stock was sold at an average price of C$77.51, for a total transaction of C$100,763.00. Following the completion of the sale, the insider now directly owns 78,329 shares in the company, valued at approximately C$6,071,280.79. Over the last 90 days, insiders sold 10,790 shares of company stock worth $834,037.

Equitable Group Company Profile (Get Rating)

Equitable Group Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, tax-free savings accounts, and institutional deposit notes, as well as specialized financing solutions.

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