The stock of The Cooper Companies, Inc. (NYSE:COO) is now priced at $283.64 and the shares are 12.71 points up or 4.69% higher compared to its previous closing price of $270.93. The stock had 774944 contracts set over the past session. COO shares’ daily volume is compared to its average trading volume at 354910 shares. However, it has a float of 48.77 million and although its performance was -5.45% over the week, it’s one to watch. Analysts have given the COO stock a yearly average price target of $332.91 per share. It means the stock’s upside potential is 17.37% with the COO share price recently placing at $269.681 to $286.32. However, some brokerage firms have priced the stock below the average, including one that has called $285.
In the last trading session, The Cooper Companies, Inc. (NYSE:COO) dropped by -$16.34 over the week and lost -$32.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $365.68. The stock recorded its established 52-week high on 01/22/20.
Since 03/18/20, the stock has traded to a low of $236.68 at 19.84%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.91. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Cooper Companies, Inc.’s two-week RSI is 45.07. This suggests that the stock is neutral at the moment and that COO shares’ price movement remains stable. The stochastic readings are equally revealing at 16.11% meaning the COO share price is currently in overbought territory.
The technical chart shows that the COO stock will likely settle at between $290.08 and $296.52 per share. However, if the stock dips below $273.44, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $263.24.
Currently, the stock is trading in the red of MACD, with a reading of -11.15. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned COO a rating of Neutral in their intiating review released on March 05. Stephens analysts upgraded their recommendation of the stock from Equal-Weight to Overweight while keeping its target price at $305 in a flash note released to investors on February 01. Goldman seeing the stock struggling downgraded it from Neutral to Sell on January 04.
The average rating for the COO equity is 2 and is currently gathering a bullish momentum. Of 14 analysts tracking The Cooper Companies, Inc. polled by Reuters, 5 rated COO as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the COO stock price is 23.11X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 41.3below the group’s average of 56. The Cooper Companies, Inc. has its P/E ratio at 4.2, which means that the stock is currently trading at a discount relative to the 5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Cooper Companies, Inc. (NYSE:COO) will decrease by about -99.9%, which will see them reach $534.22 million. The company’s full-year revenues are, however, expected to diminish by about -10.57%, down from $2650 million to $2370 million. COO’s expected adjusted earnings should drop almost -52.63% to end up at $1.53 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -30.53% to record $8.58/share.