Stage Stores, Inc. (NYSE:SSI) is among the top gainers of the stock market today, skyrocketing 5.87% or (0.12 points) to $2.23 from its previous close of $2.11. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 367926 contracts so far this session. SSI shares had a relatively better volume day versus average trading capacity of 305.04 thousand shares, but with a 18.91 million float and a 33.54% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SSI stock indicates that the average analyst price target is $1 per share. This means the stock has a potential decrease of -55.16% from where the SSI share price has been trading recently which is between $1.83 and $2.12. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $1.
During the recent trading session for Stage Stores, Inc. (NYSE:SSI), the company witnessed their stock rise $0.55 over a week and surge $1.39 from the price 20 days ago. When compared to their established 52-week high of $2.24, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/10/19. The recent low of $0.55 stood for a 3.9% since 02/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.41 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for SSI is set at $1, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Stage Stores, Inc., the two-week RSI stands at 75.9. This figure suggests that SSI stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SSI readings is similarly very revealing as it has a stochastic reading of 92.71% at this stage. This figure means that SSI share price today is being oversold.
Technical chart claims that Stage Stores, Inc. (SSI) would settle between $2.21/share to $2.31/share level. However, if the stock price goes below the $1.92 mark, then the market for Stage Stores, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.73 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.3. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Johnson Rice lowered their recommendation on shares of SSI from Accumulate to Hold in their opinion released on May 12. Johnson Rice analysts bumped their rating on Stage Stores, Inc. (NYSE:SSI) stock from Hold to Accumulate in a separate flash note issued to investors on April 03. Analysts at Northcoast released an upgrade from Sell to Neutral for the stock, in a research note that dated back to February 07.
Moving on, SSI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 22. Stage Stores, Inc. current P/B ratio of 0.3 means it is trading at a discount against its industry’s 6.6.