Home Capital Group (HCG) Reaches New 12-Month High Following Analyst Upgrade

Home Capital Group Inc (TSE:HCG) shares hit a new 52-week high during trading on Thursday after Raymond James raised their price target on the stock from C$16.00 to C$18.50. Raymond James currently has a market perform rating on the stock. Home Capital Group traded as high as C$17.60 and last traded at C$17.40, with a volume of 535054 shares trading hands. The stock had previously closed at C$17.46.

HCG has been the topic of several other research reports. National Bank Financial dropped their price objective on Home Capital Group from C$16.50 to C$15.50 and set a “sector perform” rating on the stock in a research note on Tuesday, October 30th. CIBC dropped their price objective on Home Capital Group from C$17.00 to C$16.00 in a research note on Wednesday, August 15th. Royal Bank of Canada upped their price objective on Home Capital Group from C$16.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Thursday. BMO Capital Markets set a C$17.00 price objective on Home Capital Group and gave the company a “market perform” rating in a research note on Thursday. Finally, TD Securities lowered Home Capital Group from a “buy” rating to a “hold” rating and set a C$19.00 price objective on the stock. in a research note on Thursday. Six analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of C$18.43.

In other news, Director Alan Roy Hibben bought 2,200 shares of the stock in a transaction dated Thursday, August 16th. The shares were bought at an average price of C$13.98 per share, for a total transaction of C$30,756.00. Also, insider Bradley William Kotush bought 10,000 shares of the stock in a transaction dated Tuesday, August 21st. The shares were purchased at an average price of C$14.66 per share, for a total transaction of C$146,600.00. Insiders acquired 27,200 shares of company stock worth $396,456 in the last 90 days.

Home Capital Group (TSE:HCG) last announced its earnings results on Monday, August 13th. The company reported C$0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.38 by C($0.01). The firm had revenue of C$101.63 million during the quarter, compared to the consensus estimate of C$100.20 million.

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Home Capital Group Company Profile (TSE:HCG)

Home Capital Group Inc, through its subsidiary, Home Trust Company, provides deposit, mortgage lending, retail credit, and credit card issuing services in Canada. It offers various deposit products, such as savings accounts; and single-family residential and insured residential lending, as well as residential and non-residential commercial mortgage lending services.

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