TD Securities Boosts Hudson’s Bay (TSE:HBC) Price Target to C$10.50

Hudson’s Bay (TSE:HBC) had its target price increased by TD Securities from C$9.50 to C$10.50 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 11.46% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. CIBC cut their price target on shares of Hudson’s Bay from C$10.00 to C$9.45 in a report on Tuesday. Cowen cut their price target on shares of Hudson’s Bay from C$11.00 to C$10.00 in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of Hudson’s Bay from C$11.00 to C$10.00 in a report on Thursday, April 4th. Finally, National Bank Financial lowered shares of Hudson’s Bay from a “sector perform” rating to a “tender” rating and lowered their target price for the stock from C$12.00 to C$9.45 in a research report on Tuesday.

TSE HBC traded up C$0.08 during trading hours on Friday, hitting C$9.42. 617,432 shares of the stock were exchanged, compared to its average volume of 254,417. The stock has a market capitalization of $1.72 billion and a P/E ratio of -4.10. Hudson’s Bay has a 12-month low of C$6.22 and a 12-month high of C$12.05. The company has a quick ratio of 0.07, a current ratio of 1.19 and a debt-to-equity ratio of 168.43.

Hudson’s Bay (TSE:HBC) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported C($0.54) earnings per share (EPS) for the quarter. The company had revenue of C$2.89 million for the quarter. On average, equities research analysts expect that Hudson’s Bay will post -0.8509239 earnings per share for the current fiscal year.

About Hudson’s Bay

Hudson's Bay Company owns and operates department stores in Canada and the United States. Its stores offers fashion apparels, accessories, cosmetics, and home products. The company operates its stores under the Hudson's Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH, Find @ Lord & Taylor, Home Outfitters, Galeria Kaufhof, Galeria INNO, and Sportarena names.

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