An interesting stock that came up in some of our conversations today is Ichor Holdings, Ltd. (NASDAQ:ICHR). At current price of $36.05, the shares have already lost -1.6 points (-4.25% lower) from its previous close of $37.65. Should you buy or avoid them? The stock sets an active trading volume day with a reported 108244 contracts so far this session. ICHR shares had a relatively better volume day versus average trading capacity of 344.66 thousand shares, but with a 21.72 million float and a 9.19% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ICHR stock indicates that the average analyst price target is $41 per share. This means the stock has a potential increase of 13.73% from where the ICHR share price has been trading recently.
During the recent trading session for Ichor Holdings, Ltd. (NASDAQ:ICHR), the company witnessed their stock rise $3.03 over a week and tumble down $-2.99 from the price 20 days ago. When compared to their established 52-week high of $39.83, 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 $18.62 stood for a -9.49% since 08/03/19, 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 Ichor Holdings, Ltd., the two-week RSI stands at 52.87. This figure suggests that ICHR 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 ICHR readings is similarly very revealing as it has a stochastic reading of 79.98% at this stage. This figure means that ICHR share price today is being oversold.
Technical chart claims that Ichor Holdings, Ltd. (ICHR) would settle between $38.31/share to $38.98/share level. However, if the stock price goes below the $36.62 mark, then the market for Ichor Holdings, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $35.6 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.36. 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 Cowen lifted target price for shares of ICHR but were stick to Market Perform recommendation for the stock in their opinion released on November 06. The price target has been raised from $26 to $32. DA Davidson analysts bumped their rating on Ichor Holdings, Ltd. (NASDAQ:ICHR) stock from Neutral to Buy in a separate flash note issued to investors on October 24. Analysts at Cowen lowered the stock to a Market Perform call from its previous Outperform recommendation, in a research note that dated back to September 25.
ICHR equity has an average rating of 2.13, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 2 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 Ichor Holdings, Ltd. (NASDAQ:ICHR) 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, ICHR stock price is currently trading at 11.82X forward 12-month Consensus EPS estimates, and its P/E ratio is 80.1 while for the average stock in the same group, the multiple is 32.8. Ichor Holdings, Ltd. current P/B ratio of 3.8 means it is trading at a discount against its industry’s 7.9.
Ichor Holdings, Ltd. (ICHR)’s current-quarter revenues are projected to climb by nearly 67.5% to hit $226840, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 41% from $620840 to a noteworthy $875320. At the other end of the current quarter income statement, Ichor Holdings, Ltd. is expected to see its adjusted earnings surge by roughly 168% to hit $0.67 per share. For the fiscal year, ICHR’s earnings are projected to climb by roughly 118.4% to hit $2.73 per share.