Mainstreet Equity (TSE:MEQ) Reaches New 12-Month Low – Time to Sell?

Mainstreet Equity Corp. (TSE:MEQ) hit a new 52-week low on Tuesday . The stock traded as low as C$178.81 and last traded at C$178.93, with a volume of 9718 shares. The stock had previously closed at C$179.50.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Acumen Capital cut their price objective on Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. ATB Capital boosted their target price on shares of Mainstreet Equity from C$235.00 to C$240.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$244.00.

Mainstreet Equity Price Performance

The company has a current ratio of 0.51, a quick ratio of 0.81 and a debt-to-equity ratio of 109.80. The firm’s 50-day moving average price is C$182.92 and its two-hundred day moving average price is C$188.02. The stock has a market cap of C$1.67 billion, a PE ratio of 5.81 and a beta of 0.67.

About Mainstreet Equity

Mainstreet Equity Corp is a residential real estate company. It is focused on the acquisition, redevelopment, repositioning, and management of mid-market rental apartment buildings. The business specializes in multi-family residential housing operating in a single segment. Geographically it operates in Canadian provinces including British Columbia, Alberta, Saskatchewan and Manitoba. The company generates revenue from rental income and others.