National Retail Properties, Inc. (NYSE:NNN) is among the top gainers of the stock market today, skyrocketing 12% or (3.61 points) to $33.69 from its previous close of $30.08. 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 485138 contracts so far this session. NNN shares had a relatively better volume day versus average trading capacity of 1.14 million shares, but with a 0.17 billion float and a -13.88% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NNN stock indicates that the average analyst price target is $58.83 per share. This means the stock has a potential increase of 74.62% from where the NNN share price has been trading recently.
During the recent trading session for National Retail Properties, Inc. (NYSE:NNN), the company witnessed their stock rise $6.38 over a week and tumble down $-23.93 from the price 20 days ago. When compared to their established 52-week high of $59.26, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 10/31/19. The recent low of $24.04 stood for a -43.15% since 03/18/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.99 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 National Retail Properties, Inc., the two-week RSI stands at 37. This figure suggests that NNN 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 NNN readings is similarly very revealing as it has a stochastic reading of 19.79% at this stage. This figure means that NNN share price today is being overbought.
Technical chart claims that National Retail Properties, Inc. (NNN) would settle between $30.95/share to $31.83/share level. However, if the stock price goes below the $28.51 mark, then the market for National Retail Properties, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $26.94 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.08. 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 Jefferies, assumed coverage of NNN assigning Buy rating, according to their opinion released on October 10. B. Riley FBR analysts have lowered their rating of National Retail Properties, Inc. (NYSE:NNN) stock from Buy to Neutral in a separate flash note issued to investors on February 13. Analysts at Ladenburg Thalmann lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to February 11.
NNN equity has an average rating of 2.29, 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 others rated it as a sell. 5 analysts rated National Retail Properties, Inc. (NYSE:NNN) 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, NNN stock price is currently trading at 16.88X forward 12-month Consensus EPS estimates, and its P/E ratio is 19.3 while for the average stock in the same group, the multiple is 14.4. National Retail Properties, Inc. current P/B ratio of 1.3 means it is trading at a discount against its industry’s 1.4.
National Retail Properties, Inc. (NNN)’s current-quarter revenues are projected to climb by nearly 6.1% to hit $173690, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 5.3% from $670490 to a noteworthy $706110. At the other end of the current quarter income statement, National Retail Properties, Inc. is expected to see its adjusted earnings surge by roughly -6.8% to hit $0.41 per share. For the fiscal year, NNN’s earnings are projected to climb by roughly 7.1% to hit $1.67 per share.