Time to Buy Gluskin Sheff + Associates Inc After Reaching 52-Week Low?

 Time to Buy Gluskin Sheff + Associates Inc After Reaching 52 Week Low?

The stock of Gluskin Sheff + Associates Inc (TSE:GS) hit a new 52-week low and has $12.73 target or 13.00% below today’s $14.63 share price. The 8 months bearish chart indicates high risk for the $451.19M company. The 1-year low was reported on Nov, 11 by Barchart.com. If the $12.73 price target is reached, the company will be worth $58.65 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 72,052 shares traded hands or 15.55% up from the average. Gluskin Sheff + Associates Inc (TSE:GS) has declined 18.04% since April 7, 2016 and is downtrending. It has underperformed by 24.18% the S&P500.

Gluskin Sheff + Associates Inc (TSE:GS) Ratings Coverage

Out of 6 analysts covering Gluskin Sheff and Associates (TSE:GS), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $29.50 is the highest target while $18 is the lowest. The $20.50 average target is 40.12% above today’s ($14.63) stock price. Gluskin Sheff and Associates has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Wednesday, October 7 with “Outperform”. The rating was maintained by RBC Capital Markets on Friday, September 16 with “Sector Perform”. Canaccord Genuity maintained it with “Hold” rating and $18 target price in Monday, September 19 report. The rating was downgraded by National Bank Canada on Friday, November 13 to “Sector Perform”. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 4. On Monday, September 21 the stock rating was downgraded by Desjardins Securities to “Hold”.

More recent Gluskin Sheff + Associates Inc (TSE:GS) news were published by: Finance.Yahoo.com which released: “Gluskin Sheff + Associates Inc. Announces First Quarter Fiscal 2017 Results” on November 10, 2016. Also Finance.Yahoo.com published the news titled: “Gluskin Sheff + Associates Inc. Announces September 30, 2016 Assets Under …” on October 17, 2016. Finance.Yahoo.com‘s news article titled: “Gluskin Sheff + Associates Inc. First Quarter Fiscal 2017 Results and …” with publication date: October 19, 2016 was also an interesting one.

Gluskin Sheff + Associates Inc. is a wealth management firm serving high net worth private clients and institutional investors. The company has a market cap of $451.19 million. The Firm provides discretionary investment management services. It has a 13.21 P/E ratio. It provides private client services to high net worth investors, including entrepreneurs, family trusts, private charitable foundations and estates.

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