In yesterday’s Wall Street session, Cava Group Inc (NYSE:CAVA) shares traded at $85.04, down -7.61% from the previous session.
CAVA stock price is now 17.66% away from the 50-day moving average and 70.58% away from the 200-day moving average. The market capitalization of the company currently stands at $9.70B.
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With the price target maintained at $77, JP Morgan recently Downgraded its rating from Overweight to Neutral for Cava Group Inc (NYSE: CAVA). On May 30, 2024, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock increasing its target price from $63 to quote $92, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, Xenohristos Theodoros, Director sold 47,239 shares of the company’s stock on Mar 26 ’24. The stock was sold for $3,225,851 at an average price of $68.29. Upon completion of the transaction, the Director now directly owns 526,521 shares in the company, valued at $44.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 21 ’24, Director Artal International S.C.A. sold 2,000,000 shares of the business’s stock. A total of $132,500,000 was realized by selling the stock at an average price of $66.25. This leaves the insider owning 26,507,990 shares of the company worth $2.25 billion. A total of 20.66% of the company’s stock is owned by insiders.
During the past 12 months, Cava Group Inc has had a low of $29.05 and a high of $96.93. As of last week, the company has a debt-to-equity ratio of 0.60, a current ratio of 3.16, and a quick ratio of 3.11. According to the stock market information, the enterprise value for the company is $9718609920, which is based on a 334.28 price-to-earnings ratio, a 8.77 price-to-earnings-growth ratio, and a beta of 3.40. The fifty day moving average price for CAVA is $72.6148 and a two-hundred day moving average price translates $50.0714 for the stock.
The latest earnings results from Cava Group Inc (NYSE: CAVA) was released for 2024-04-21. The net profit margin was 3.75% and return on equity was 7.43% for CAVA. The company reported revenue of $259.01 million for the quarter, compared to $203.08 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.54 percent.
