The stock of Regis Corporation (NYSE:RGS) is now priced at $7.39 and the shares are -1.69 points down or -18.61% lower compared to its previous closing price of $9.08. The stock had 2.022 million contracts set over the past session. RGS shares’ daily volume is compared to its average trading volume at 580475 shares. However, it has a float of 33.56 million and although its performance was -15.35% over the week, it’s one to watch. Analysts have given the RGS stock a yearly average price target of $15 per share. It means the stock’s upside potential is 102.98% with the RGS share price recently placing at $7.25 to $8.33. However, some brokerage firms have priced the stock below the average, including one that has called $13.
The shorts are running away from the Regis Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the RGS shares have declined. Short interest in the stock represents just 21.84% of its float, but the volume has dropped by 0.
In the last trading session, Regis Corporation (NYSE:RGS) dropped by -$1.34 over the week and lost -$0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.27. The stock recorded its established 52-week high on 10/28/19.
Since 04/03/20, the stock has traded to a low of $4.22 at 75.11%, 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 2.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Regis Corporation’s two-week RSI is 37.31. This suggests that the stock is neutral at the moment and that RGS shares’ price movement remains stable. The stochastic readings are equally revealing at 27.05% meaning the RGS share price is currently in overbought territory.
The technical chart shows that the RGS stock will likely settle at between $8.06 and $8.74 per share. However, if the stock dips below $6.98, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.58.
Currently, the stock is trading in the red of MACD, with a reading of -0.23. 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 RGS a rating of Buy in their intiating review released on April 05. KeyBanc Capital Mkts analysts see the stock as a Sector Weight in a flash note released to investors on December 21 initiating covering the stock. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on September 13, placing it at $15.
The average rating for the RGS equity is 1.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Regis Corporation polled by Reuters, 0 rated RGS as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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 RGS stock price is 15.24X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 60.5. Regis Corporation has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 8.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Regis Corporation (NYSE:RGS) will decrease by about -99.97%, which will see them reach $51.15 million. The company’s full-year revenues are, however, expected to diminish by about -37.67%, down from $1070 million to $667 million. RGS’s expected adjusted earnings should drop almost -206.45% to end up at -$0.66 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -63.04% to record $0.51/share.