What just happened? Stericycle, Inc. (NASDAQ:SRCL) stock value has climbed by nearly 3.87% or (1.89 points) to $50.66 from its previous close of $48.77. 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 865501 contracts so far this session. SRCL shares had a relatively better volume day versus average trading capacity of 928.98 thousand shares, but with a 90.67 million float and a 9.57% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SRCL stock indicates that the average analyst price target is $53.17 per share. This means the stock has a potential increase of 4.95% from where the SRCL share price has been trading recently which is between $46.71 and $48.79. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $39.
The shorts are climbing into Stericycle, Inc. (SRCL) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in SRCL shares. While short interest still represents only 13.06% of SRCL’s float, the number of shares shorted have risen by 402535. The number of shares shorted advanced to 11843086 shares, up from 11440551 shares during the preceding fortnight. With average daily trading volumes at 1517521 shares, days to cover decreased to about 13.02118 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why Is Stericycle (SRCL) Up 0.9% Since Last Earnings Report?” and dated August 31, 2019.
During the recent trading session for Stericycle, Inc. (NASDAQ:SRCL), the company witnessed their stock rise $4.04 over a week and surge $7.02 from the price 20 days ago. When compared to their established 52-week high of $62.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/17/18. The recent low of $34.36 stood for a -19.34% 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 1.22 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 Stericycle, Inc., the two-week RSI stands at 70.14. This figure suggests that SRCL stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SRCL readings is similarly very revealing as it has a stochastic reading of 97.25% at this stage. This figure means that SRCL share price today is being oversold.
Technical chart claims that Stericycle, Inc. (SRCL) would settle between $49.47/share to $50.17/share level. However, if the stock price goes below the $47.39 mark, then the market for Stericycle, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $46.01 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.25. 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 Robert W. Baird raised their recommendation on shares of SRCL from Underperform to Neutral in their opinion released on August 02. BofA/Merrill analysts again handed out a Underperform recommendation to Stericycle, Inc. (NASDAQ:SRCL) stock but they lifted target price for the shares in a flash note issued to investors on July 17. The target price has been raised from $46 to $44. Analysts at Robert W. Baird lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to April 18.
SRCL equity has an average rating of 2.3, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 4 analysts rated Stericycle, Inc. (NASDAQ:SRCL) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SRCL stock price is currently trading at 15.91X forward 12-month Consensus EPS estimates, and its P/E ratio is 15.29 while for the average stock in the same group, the multiple is -6.8. Stericycle, Inc. current P/B ratio of 1.73 means it is trading at a discount against its industry’s 2.8.
Stericycle, Inc. (SRCL)’s current-quarter revenues are projected to climb by nearly -0.98% to hit $846560, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -3.16% from $3.49 billion to a noteworthy $3.38 billion. At the other end of the current quarter income statement, Stericycle, Inc. is expected to see its adjusted earnings surge by roughly -33.01% to hit $0.69 per share. For the fiscal year, SRCL’s earnings are projected to climb by roughly -41.8% to hit $2.59 per share.