The stock of Johnson Controls International plc (NYSE:JCI) is now priced at $40.1 and the shares are 1.05 points up or 2.69% higher compared to its previous closing price of $39.05. The stock had 4.984 million contracts set over the past session. JCI shares’ daily volume is compared to its average trading volume at 5.619 million shares. However, it has a float of 742 million and although its performance was 3.03% over the week, it’s one to watch. Analysts have given the JCI stock a yearly average price target of $42.53 per share. It means the stock’s upside potential is 6.06% with the JCI share price recently placing at $39.08 to $40.195. However, some brokerage firms have priced the stock below the average, including one that has called $36.
The shorts are running away from the Johnson Controls International plc stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the JCI shares have declined. Short interest in the stock represents just 1.61% of its float, but the volume has dropped by 0.
In the last trading session, Johnson Controls International plc (NYSE:JCI) raised by $1.18 over the week and gained $6.1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $44.82. The stock recorded its established 52-week high on 11/04/19.
Since 03/23/20, the stock has traded to a low of $22.77 at 76.07%, 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 1.13. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Johnson Controls International plc’s two-week RSI is 70.58. This suggests that the stock is oversold at the moment and that JCI shares’ price movement remains not stable. The stochastic readings are equally revealing at 76% meaning the JCI share price is currently in oversold territory.
The technical chart shows that the JCI stock will likely settle at between $40.5 and $40.91 per share. However, if the stock dips below $39.39, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $38.68.
Currently, the stock is trading in the green of MACD, with a reading of 0.64. 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 UBS raised their recommendation for JCI from Neutral to Buy in June 22 review. RBC Capital Mkts analysts upgraded their recommendation of the stock from Underperform to Sector Perform while keeping its target price at $25 to $29 in a flash note released to investors on May 19. Cowen seeing the improvements upgraded the stock from Market Perform to Outperform on May 14, placing it at $44 to $36.
The average rating for the JCI equity is 2.35 and is currently gathering a bullish momentum. Of 20 analysts tracking Johnson Controls International plc polled by Reuters, 8 rated JCI as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) 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 JCI stock price is 16.4X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 41.3 above the group’s average of 39.3. Johnson Controls International plc has its P/E ratio at 1.7, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Johnson Controls International plc (NYSE:JCI) will increase by about 5.18%, which will see them reach $5620 million. The company’s full-year revenues are, however, expected to diminish by about -8.34%, down from $23970 million to $21970 million. JCI’s expected adjusted earnings should drop almost -7.69% to end up at $0.72 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 12.24% to record $2.2/share.