Uniti Group Inc. (NASDAQ:UNIT) is one of the stocks that are grabbing investor focus today: skyrocketing 2.67% or (0.18 points) to $6.93 from its previous close of $6.75. 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 827209 contracts so far this session. UNIT shares had a relatively better volume day versus average trading capacity of 2.29 million shares, but with a 0.19 billion float and a 4.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for UNIT stock indicates that the average analyst price target is $7.21 per share. This means the stock has a potential increase of 4.04% from where the UNIT share price has been trading recently which is between $6.53 and $6.86. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $11.
During the recent trading session for Uniti Group Inc. (NASDAQ:UNIT), the company witnessed their stock rise $0.62 over a week and surge $0.02 from the price 20 days ago. When compared to their established 52-week high of $20.14, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/02/19. The recent low of $5.24 stood for a -65.59% since 12/11/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.09 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 UNIT is set at $6, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Uniti Group Inc., the two-week RSI stands at 54.25. This figure suggests that UNIT 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 UNIT readings is similarly very revealing as it has a stochastic reading of 68.2% at this stage. This figure means that UNIT share price today is being neutral.
Technical chart claims that Uniti Group Inc. (UNIT) would settle between $6.9/share to $7.04/share level. However, if the stock price goes below the $6.57 mark, then the market for Uniti Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.38 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.24. 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 Wells Fargo lowered their recommendation on shares of UNIT from Market Perform to Underperform in their opinion released on March 05. RBC Capital Mkts analysts have lowered their rating of Uniti Group Inc. (NASDAQ:UNIT) stock from Outperform to Sector Perform in a separate flash note issued to investors on February 20. Analysts at Raymond James lowered the stock to a Mkt Perform call from its previous Strong Buy recommendation, in a research note that dated back to February 19.
UNIT equity has an average rating of 3, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 3 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 Uniti Group Inc. (NASDAQ:UNIT) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, UNIT stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 39.7 while for the average stock in the same group, the multiple is 32.6. Uniti Group Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 3.4.
Uniti Group Inc. (UNIT)’s current-quarter revenues are projected to climb by nearly 0.9% to hit $273270, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 4.4% from $1.02 billion to a noteworthy $1.06 billion. At the other end of the current quarter income statement, Uniti Group Inc. is expected to see its adjusted earnings surge by roughly -50% to hit $0.03 per share. For the fiscal year, UNIT’s earnings are projected to climb by roughly 225% to hit $0.13 per share.