TE Connectivity Ltd. (NYSE:TEL) is among the top gainers of the stock market today, skyrocketing 2.52% or (2.47 points) to $100.39 from its previous close of $97.92. 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 1091992 contracts so far this session. TEL shares had a relatively better volume day versus average trading capacity of 1.33 million shares, but with a 0.33 billion float and a 3.39% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TEL stock indicates that the average analyst price target is $97.07 per share. This means the stock has a potential decrease of -3.31% from where the TEL share price has been trading recently.
During the recent trading session for TE Connectivity Ltd. (NYSE:TEL), the company witnessed their stock rise $3.37 over a week and surge $6.04 from the price 20 days ago. When compared to their established 52-week high of $100.23, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/14/20. The recent low of $74.84 stood for a 2.12% since 01/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.19 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 TE Connectivity Ltd., the two-week RSI stands at 73.31. This figure suggests that TEL 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 TEL readings is similarly very revealing as it has a stochastic reading of 94.26% at this stage. This figure means that TEL share price today is being oversold.
Technical chart claims that TE Connectivity Ltd. (TEL) would settle between $98.34/share to $98.75/share level. However, if the stock price goes below the $97.38 mark, then the market for TE Connectivity Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $96.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.48. 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 Wells Fargo raised their recommendation on shares of TEL from Equal Weight to Overweight in their opinion released on January 14. RBC Capital Mkts, analysts launched coverage of TE Connectivity Ltd. (NYSE:TEL) stock with a Outperform recommendation, according to their flash note issued to investors on December 17. Analysts at JP Morgan, made their first call for the equity with a Neutral recommendation, according to a research note that dated back to October 22.
TEL equity has an average rating of 2.38, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 6 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. 6 analysts rated TE Connectivity Ltd. (NYSE:TEL) 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, TEL stock price is currently trading at 16.96X forward 12-month Consensus EPS estimates, and its P/E ratio is 17.1 while for the average stock in the same group, the multiple is 23.7. TE Connectivity Ltd. current P/B ratio of 3.1 means it is trading at a premium against its industry’s 2.9.