Gluskin Sheff + Associates Inc (GS) Downgraded by Scotiabank
Gluskin Sheff + Associates Inc (TSE:GS) was downgraded by equities research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday. They currently have a C$18.00 target price on the stock, down from their previous target price of C$20.00. Scotiabank’s target price suggests a potential upside of 9.49% from the stock’s previous close.
Several other brokerages also recently issued reports on GS. CIBC increased their price objective on Gluskin Sheff + Associates from C$19.50 to C$21.50 in a research note on Friday, July 7th. TD Securities increased their price objective on Gluskin Sheff + Associates from C$17.00 to C$19.00 and gave the stock a “hold” rating in a research note on Friday, July 7th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$18.00 price objective on shares of Gluskin Sheff + Associates in a research note on Friday, July 7th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of C$18.36.
Gluskin Sheff + Associates (GS) traded down 9.72% on Wednesday, hitting $16.44. 422,871 shares of the stock were exchanged. The company has a market cap of $495.42 million and a PE ratio of 11.91. The company’s 50-day moving average is $17.74 and its 200-day moving average is $16.92. Gluskin Sheff + Associates has a 52 week low of $14.39 and a 52 week high of $19.93.
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In other news, insider Peter Aaron Zaltz sold 8,221 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of C$17.32, for a total transaction of C$142,387.72.
Gluskin Sheff + Associates Company Profile
Gluskin Sheff + Associates Inc is a wealth management company serving high net worth private clients and institutional investors. The Company provides discretionary investment management services. It provides private client services to high net worth investors, including entrepreneurs, family trusts, private charitable foundations and estates.
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