Equitable Group (TSE:EQB) Price Target Raised to C$106.00 at Royal Bank of Canada

Equitable Group (TSE:EQB) had its price objective upped by equities research analysts at Royal Bank of Canada from C$96.00 to C$106.00 in a research note issued on Wednesday, July 31st, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 11.25% from the company’s current price.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Equitable Group from C$80.00 to C$85.00 in a research note on Monday, May 13th. CIBC upped their price objective on shares of Equitable Group from C$94.00 to C$97.00 in a research note on Tuesday, July 30th. National Bank Financial upped their price objective on shares of Equitable Group from C$77.00 to C$83.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 30th. Finally, TD Securities upped their price objective on shares of Equitable Group from C$83.00 to C$84.00 and gave the company a “hold” rating in a research note on Monday, May 13th.

EQB stock traded down C$1.78 during trading on Wednesday, hitting C$95.28. The stock had a trading volume of 23,000 shares, compared to its average volume of 31,140. The company’s 50 day moving average price is C$84.80 and its two-hundred day moving average price is C$73.36. Equitable Group has a 1-year low of C$56.12 and a 1-year high of C$98.04. The stock has a market cap of $1.59 billion and a price-to-earnings ratio of 8.90.

In other news, Senior Officer Andrew Moor sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of C$96.11, for a total transaction of C$768,880.00. Following the completion of the sale, the insider now owns 18,899 shares in the company, valued at approximately C$1,816,382.89. Also, Senior Officer Timothy James Wilson sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of C$72.70, for a total value of C$145,400.00. Following the sale, the insider now owns 23,540 shares of the company’s stock, valued at approximately C$1,711,358. In the last ninety days, insiders have sold 17,055 shares of company stock valued at $1,520,194.

Equitable Group Company Profile

Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates (GICs), high interest savings accounts (HISAs), tax-free savings accounts, and institutional deposit notes.

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