The stock of General Dynamics Corporation (NYSE:GD) is now priced at $158.85 and the shares are 2.29 points up or 1.46% higher compared to its previous closing price of $156.56. GD shares have a float of 270 million and although its performance was 5.98% over the week, it’s one to watch. Analysts have given the GD stock a yearly average price target of $169.24 per share. It means the stock’s upside potential is 6.54% with the GD share price recently placing at $153.43 to $156.77. However, some brokerage firms have priced the stock below the average, including one that has called $148.
The shorts are running away from the General Dynamics Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GD shares have declined. Short interest in the stock represents just 1.04% of its float, but the volume has dropped by 0.
In the last trading session, General Dynamics Corporation (NYSE:GD) raised by $11.61 over the week and gained $15.49 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $193.76. The stock recorded its established 52-week high on 09/06/19.
Since 03/23/20, the stock has traded to a low of $100.55 at 57.98%, 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 1.01. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, General Dynamics Corporation’s two-week RSI is 68.47. This suggests that the stock is neutral at the moment and that GD shares’ price movement remains stable. The stochastic readings are equally revealing at 94.34% meaning the GD share price is currently in oversold territory.
The technical chart shows that the GD stock will likely settle at between $160.48 and $162.1 per share. However, if the stock dips below $157.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $156.32.
Currently, the stock is trading in the green of MACD, with a reading of 5.32. 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 Argus cut their recommendation for GD from Buy to Hold in August 03 review. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $157 in a flash note released to investors on May 21 initiating covering the stock. Seaport Global Securities analysts see the stock as Buy when the analysts initiated the share price coverage on May 19, placing it at $188.
The average rating for the GD equity is 2 and is currently gathering a bullish momentum. Of 20 analysts tracking General Dynamics Corporation polled by Reuters, 6 rated GD as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (14) 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 GD stock price is 12.99X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 13.9 below the group’s average of 53.2. General Dynamics Corporation has its P/E ratio at 3.2, 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 General Dynamics Corporation (NYSE:GD) will increase by about 4.06%, which will see them reach $9640 million. The company’s full-year revenues are, however, expected to diminish by about -2.62%, down from $39350 million to $38320 million. GD’s expected adjusted earnings should drop almost -8.28% to end up at $2.88 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -7.76% to record $11.05/share.