Time to Sell Hudson’s Bay Co After Today’s Gap Down?

 Time to Sell Hudson's Bay Co After Today's Gap Down?

The stock of Hudson’s Bay Co (TSE:HBC) gapped down by $0.04 today and has $13.56 target or 8.00% below today’s $14.74 share price. The 9 months technical chart setup indicates high risk for the $2.67B company. The gap down was reported on Nov, 16 by Barchart.com. If the $13.56 price target is reached, the company will be worth $213.60 million 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 48,605 shares traded hands. Hudson’s Bay Co (TSE:HBC) has declined 11.98% since April 12, 2016 and is downtrending. It has underperformed by 16.67% 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. $40 is the highest target while $23 is the lowest. The $30.40 average target is 106.24% above today’s ($14.74) stock price. Hudson’s Bay Company has been the topic of 21 analyst reports since September 11, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Hudson’s Bay Co (TSE:HBC) rating on Friday, January 8. RBC Capital Markets has “Outperform” rating and $32 price target. RBC Capital Markets maintained Hudson’s Bay Co (TSE:HBC) on Monday, November 30 with “Outperform” rating. The firm has “Buy” rating by TD Securities given on Tuesday, August 30. The firm earned “Outperform” rating on Friday, December 11 by RBC Capital Markets. Scotia Capital maintained Hudson’s Bay Co (TSE:HBC) rating on Thursday, September 1. Scotia Capital has “Outperform” rating and $26 price target. On Friday, June 10 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Friday, June 10, the company rating was maintained by Scotia Capital. The firm has “Outperform” rating by Scotia Capital given on Thursday, September 22. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, August 30. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, September 7.

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: “Is Hudson’s Bay Co. Still a Good Investment?” published on November 14, 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 Wsj.com‘s news article titled: “Hudson’s Bay Co. Widens Loss, Plans More Cost-Cutting Moves” with publication date: June 09, 2016.

Hudson’s Bay Company is a Canada department store retailer. The company has a market cap of $2.67 billion. The Firm is an operator and a consolidator, as well as a real estate developer. It has a 31.63 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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