Today’s big question for investors is, “what’s going on with Affiliated Managers Group, Inc. (NYSE:AMG) stock? Its price is nose-diving -3.3 points, trading at $80.76 levels, and is down -3.93% from its previous close of $84.06. The shares seem to have an active trading volume day with a reported 308519 contracts so far this session. AMG shares had a relatively better volume day versus average trading capacity of 551.46 thousand shares, but with a 50.18 million float and a 11.16% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AMG stock indicates that the average analyst price target is $86.75 per share. This means the stock has a potential increase of 7.42% from where the AMG share price has been trading recently which is between $81.51 and $84.27. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $75. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $100.
During the recent trading session for Affiliated Managers Group, Inc. (NYSE:AMG), the company witnessed their stock rise $3.77 over a week and surge $4.59 from the price 20 days ago. When compared to their established 52-week high of $119.56, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/11/18. The recent low of $71.08 stood for a -32.45% since 09/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.65 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. At the moment, the median target price for AMG is set at $87.5, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Affiliated Managers Group, Inc., the two-week RSI stands at 58.74. This figure suggests that AMG 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 AMG readings is similarly very revealing as it has a stochastic reading of 85.84% at this stage. This figure means that AMG share price today is being oversold.
Technical chart claims that Affiliated Managers Group, Inc. (AMG) would settle between $85.05/share to $86.04/share level. However, if the stock price goes below the $82.29 mark, then the market for Affiliated Managers Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $80.52 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 3.98. 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 lifted target price for shares of AMG but were stick to Underperform recommendation for the stock in their opinion released on October 08. The price target has been raised from $75 to $85. BofA/Merrill analysts have lowered their rating of Affiliated Managers Group, Inc. (NYSE:AMG) stock from Buy to Underperform in a separate flash note issued to investors on July 30. Analysts at BofA/Merrill are sticking to their Buy stance. However, on June 06, they lifted price target for these shares to $97 from $113.
AMG equity has an average rating of 2.6, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 3 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. 3 analysts rated Affiliated Managers Group, Inc. (NYSE:AMG) 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, AMG stock price is currently trading at 6.03X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 17. Affiliated Managers Group, Inc. current P/B ratio of 1.4 means it is trading at a discount against its industry’s 1.5.
Affiliated Managers Group, Inc. (AMG)’s current-quarter revenues are projected to climb by nearly -2.4% to hit $550590, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -6.2% from $2.38 billion to a noteworthy $2.23 billion. At the other end of the current quarter income statement, Affiliated Managers Group, Inc. is expected to see its adjusted earnings surge by roughly 14.2% to hit $4.03 per share. For the fiscal year, AMG’s earnings are projected to climb by roughly -5.2% to hit $13.74 per share.