ProPetro Holding Corp. (NYSE:PUMP) is one of the stocks that are grabbing investor focus today: skyrocketing 4.57% or (1.03 points) to $23.55 from its previous close of $22.52. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 176023 contracts so far this session. PUMP shares had a relatively better volume day versus average trading capacity of 1.37 million shares, but with a 78.86 million float and a 5.63% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PUMP stock indicates that the average analyst price target is $26.45 per share. This means the stock has a potential increase of 12.31% from where the PUMP share price has been trading recently which is between $21.5 and $22.87. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $17.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Top Ranked Value Stocks to Buy for May 14th” and dated May 14, 2019.
During the recent trading session for ProPetro Holding Corp. (NYSE:PUMP), the company witnessed their stock rise $2.12 over a week and tumble down $-1.1 from the price 20 days ago. When compared to their established 52-week high of $25.38, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/23/19. The recent low of $11.27 stood for a -7.21% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for ProPetro Holding Corp., the two-week RSI stands at 58.85. This figure suggests that PUMP stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PUMP readings is similarly very revealing as it has a stochastic reading of 69.88% at this stage. This figure means that PUMP share price today is being neutral.
Technical chart claims that ProPetro Holding Corp. (PUMP) would settle between $23.09/share to $23.67/share level. However, if the stock price goes below the $21.72 mark, then the market for ProPetro Holding Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $20.93 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.6. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lowered their recommendation on shares of PUMP from Buy to Neutral in their opinion released on April 16. Raymond James analysts have lowered their rating of ProPetro Holding Corp. (NYSE:PUMP) stock from Strong Buy to Outperform in a separate flash note issued to investors on April 04. Analysts at Wells Fargo, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to March 29.
PUMP equity has an average rating of 1.87, with the figure leaning towards a bullish end. 23 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 19 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 19 analysts rated ProPetro Holding Corp. (NYSE:PUMP) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PUMP stock price is currently trading at 7.49X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.19 while for the average stock in the same group, the multiple is 6.36. ProPetro Holding Corp. current P/E ratio of 9.81 means it is trading at a discount against its industry’s 26.88. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
ProPetro Holding Corp. (PUMP)’s current-quarter revenues are projected to climb by nearly 14.25% to hit $525420, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 24.31% from $1.7 billion to a noteworthy $2.12 billion. At the other end of the current quarter income statement, ProPetro Holding Corp. is expected to see its adjusted earnings surge by roughly 42.22% to hit $0.64 per share. For the fiscal year, PUMP’s earnings are projected to climb by roughly 30.5% to hit $2.61 per share.