Hudson’s Bay (HBC) Gets a Hold Rating from CIBC

By Jason Carr

Hudson’s Bay (HBCResearch Report), the Services sector company, has received a rating update from a Wall Street analyst today. Analyst Mark Petrie from CIBC remains neutral on the stock and has a C$10.75 price target.

Petrie has an average return of 0.3% when recommending Hudson’s Bay.

According to TipRanks.com, Petrie is ranked #161 out of 5201 analysts.

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Hudson’s Bay has an analyst consensus of Hold, with a price target consensus of C$10.25, implying a 3.0% upside from current levels. In a report issued on June 14, Cowen & Co. also maintained a Hold rating on the stock with a C$12 price target.

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Based on Hudson’s Bay’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of C$2.12 billion and net profit of C$275 million. In comparison, last year the company earned revenue of C$3.09 billion and had a GAAP net loss of C$400 million.

Hudson’s Bay Co. engages in the ownership and operation of department stores. It operates through Department Stores, segment. The Department Stores segment sells fashion apparel, accessories, cosmetics, and home product under the Hudson’s Bay, Lord & Taylor, and Home Outfitters; Saks Fifth Avenue; and Saks OFF 5TH stores.

The company’s shares closed on Tuesday at C$9.95.