Bearish Gap Down for Hudson’s Bay Co After Worse Fundamentals

 Bearish Gap Down for Hudson's Bay Co After Worse Fundamentals

The stock of Hudson’s Bay Co (TSE:HBC) gapped down by $0.83 today and has $14.14 target or 5.00% below today’s $14.88 share price. The 9 months technical chart setup indicates high risk for the $2.73 billion company. The gap down was reported on Nov, 11 by Barchart.com. If the $14.14 price target is reached, the company will be worth $136.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 408,372 shares traded hands or 143.53% up from the average. Hudson’s Bay Co (TSE:HBC) has declined 4.11% since April 7, 2016 and is downtrending. It has underperformed by 10.26% the S&P500.

Hudson’s Bay Co (TSE:HBC) Ratings Coverage

Out of 5 analysts covering Hudson’s Bay Company (TSE:HBC), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Hudson’s Bay Company has been the topic of 20 analyst reports since September 11, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of HBC in a report on Tuesday, August 30 with “Outperform” rating. The rating was maintained by RBC Capital Markets on Friday, January 8 with “Outperform”. On Friday, December 11 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm earned “Outperform” rating on Friday, June 10 by Scotia Capital. As per Tuesday, August 30, the company rating was maintained by TD Securities. The rating was maintained by RBC Capital Markets on Monday, November 30 with “Outperform”. The firm has “Outperform” rating given on Wednesday, September 7 by RBC Capital Markets. The firm has “Outperform” rating by Scotia Capital given on Thursday, September 22. The company was maintained on Thursday, September 1 by Scotia Capital. RBC Capital Markets maintained Hudson’s Bay Co (TSE:HBC) on Friday, June 10 with “Outperform” rating.

More notable recent Hudson’s Bay Co (TSE:HBC) news were published by: Business.Financialpost.com which released: “Hudson’s Bay Company cuts outlook after sales fall more than expected at most …” on November 11, 2016, also Fool.ca with their article: “RioCan Real Estate Investment Trust or Hudson’s Bay Co: Which Is the Better Buy?” published on November 09, 2016, Businesswire.com published: “Hudson’s Bay Company Announces Comparable Sales Results for the Third Quarter …” on November 10, 2016. More interesting news about Hudson’s Bay Co (TSE:HBC) were released by: Forbes.com and their article: “Hudson’s Bay Company’s Transformation Leads to Fast Growth” published on June 13, 2016 as well as Fool.ca‘s news article titled: “Amazon.com, Inc. Versus Hudson’s Bay Co: The War Begins” with publication date: November 08, 2016.

Hudson’s Bay Company is a Canada department store retailer. The company has a market cap of $2.73 billion. The Firm is an operator and a consolidator, as well as a real estate developer. It has a 31.93 P/E ratio. The Company’s retail portfolio includes approximately 10 banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with over 460 stores.

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