An interesting stock that came up in some of our conversations today is CVR Energy, Inc. (NYSE:CVI). At current price of $44.05, the shares have already lost -2.37 points (-5.11% lower) from its previous close of $46.42. Should you buy or avoid them? The stock sets an active trading volume day with a reported 407477 contracts so far this session. CVI shares had a relatively better volume day versus average trading capacity of 503.05 thousand shares, but with a 0.1 billion float and a 2.9% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CVI stock indicates that the average analyst price target is $43.25 per share. This means the stock has a potential decrease of -1.82% from where the CVI share price has been trading recently which is between $46.37 and $48.8. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $41.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Icahn-Backed Oil Refiner CVR Energy Considers Options” and dated May 22, 2019.
During the recent trading session for CVR Energy, Inc. (NYSE:CVI), the company witnessed their stock drop by $-2.56 over a week and tumble down $-1.71 from the price 20 days ago. When compared to their established 52-week high of $48.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/22/19. The recent low of $30.46 stood for a -9.73% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.21 is also allocated to the stock. Since the beta is greater 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 CVR Energy, Inc., the two-week RSI stands at 46.67. This figure suggests that CVI 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 CVI readings is similarly very revealing as it has a stochastic reading of 57.69% at this stage. This figure means that CVI share price today is being neutral.
Technical chart claims that CVR Energy, Inc. (CVI) would settle between $48.02/share to $49.63/share level. However, if the stock price goes below the $45.59 mark, then the market for CVR Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $44.77 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.29. 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 Tudor Pickering, assumed coverage of CVI assigning Hold rating, according to their opinion released on December 13. Goldman analysts have lowered their rating of CVR Energy, Inc. (NYSE:CVI) stock from Buy to Neutral in a separate flash note issued to investors on November 06. Analysts at Citigroup, made their first call for the equity with a Buy recommendation, according to a research note that dated back to October 31.
CVI equity has an average rating of 2.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 1 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. 1 analysts rated CVR Energy, Inc. (NYSE:CVI) 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, CVI stock price is currently trading at 14.1X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.43 while for the average stock in the same group, the multiple is 1.1. CVR Energy, Inc. current P/E ratio of 98.53 means it is trading at a premium against its industry’s 22.43. In the past 5 years, this ratio for the stock has been fluctuating between 9.77 and 89.23.