Today’s big question for investors is, “what’s going on with Coca-Cola European Partners plc (NYSE:CCEP) stock? Its price is nose-diving -7.33 points, trading at $36.59 levels, and is down -16.69% from its previous close of $43.92. The shares seem to have an active trading volume day with a reported 662385 contracts so far this session. CCEP shares had a relatively better volume day versus average trading capacity of 1.08 million shares, but with a 0.2 billion float and a -16.8% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CCEP stock indicates that the average analyst price target is $54.68 per share. This means the stock has a potential increase of 49.44% from where the CCEP share price has been trading recently.
During the recent trading session for Coca-Cola European Partners plc (NYSE:CCEP), the company witnessed their stock drop by $-11.68 over a week and tumble down $-18.34 from the price 20 days ago. When compared to their established 52-week high of $58.94, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 10/22/19. The recent low of $35.85 stood for a -37.92% since 03/16/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.39 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 Coca-Cola European Partners plc, the two-week RSI stands at 27.74. This figure suggests that CCEP stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CCEP readings is similarly very revealing as it has a stochastic reading of 17.69% at this stage. This figure means that CCEP share price today is being overbought.
Technical chart claims that Coca-Cola European Partners plc (CCEP) would settle between $45.32/share to $46.72/share level. However, if the stock price goes below the $41.37 mark, then the market for Coca-Cola European Partners plc becomes much weaker. If that happens, the stock price might even plunge as low as $38.83 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -7.22. 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 JP Morgan raised their recommendation on shares of CCEP from Neutral to Overweight in their opinion released on January 15. Argus analysts have lowered their rating of Coca-Cola European Partners plc (NYSE:CCEP) stock from Buy to Hold in a separate flash note issued to investors on December 05. Analysts at Liberum, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 19.
CCEP equity has an average rating of 2.15, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 8 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. 8 analysts rated Coca-Cola European Partners plc (NYSE:CCEP) 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, CCEP stock price is currently trading at 12.9X forward 12-month Consensus EPS estimates, and its P/E ratio is 16.8 while for the average stock in the same group, the multiple is 27.4. Coca-Cola European Partners plc current P/B ratio of 2.9 means it is trading at a discount against its industry’s 7.3.