An interesting stock that came up in some of our conversations today is Washington Prime Group Inc. (NYSE:WPG). At current price of $3.82, the shares have already added 0.14 points (3.8% higher) from its previous close of $3.68. Should you buy or avoid them? The stock sets an active trading volume day with a reported 1578427 contracts so far this session. WPG shares had a relatively better volume day versus average trading capacity of 3.46 million shares, but with a 0.19 billion float and a -4.42% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WPG stock indicates that the average analyst price target is $3 per share. This means the stock has a potential decrease of -21.47% from where the WPG share price has been trading recently which is between $3.62 and $3.73. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $3.5.
During the recent trading session for Washington Prime Group Inc. (NYSE:WPG), the company witnessed their stock drop by $-0.01 over a week and tumble down $-0.13 from the price 20 days ago. When compared to their established 52-week high of $6.96, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/11/18. The recent low of $3.11 stood for a -45.11% since 03/09/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.95 is also allocated to the stock. Since the beta is less 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 WPG is set at $3, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Washington Prime Group Inc., the two-week RSI stands at 50.06. This figure suggests that WPG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current WPG readings is similarly very revealing as it has a stochastic reading of 13.24% at this stage. This figure means that WPG share price today is being overbought.
Technical chart claims that Washington Prime Group Inc. (WPG) would settle between $3.73/share to $3.79/share level. However, if the stock price goes below the $3.62 mark, then the market for Washington Prime Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.57 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.09. 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 SunTrust lowered their recommendation on shares of WPG from Hold to Sell in their opinion released on January 15. Goldman analysts have lowered their rating of Washington Prime Group Inc. (NYSE:WPG) stock from Neutral to Sell in a separate flash note issued to investors on December 18. Analysts at Boenning & Scattergood lowered the stock to a Under Perform call from its previous Neutral recommendation, in a research note that dated back to August 23.
WPG equity has an average rating of 3.67, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated Washington Prime Group Inc. (NYSE:WPG) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WPG stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 21.6 while for the average stock in the same group, the multiple is 17.9. Washington Prime Group Inc. current P/B ratio of 1 means it is trading at a discount against its industry’s 2.8.