Concentrix Corp. (CNXC) Stock: Navigating the Market Volatility

The stock of Concentrix Corp. (CNXC) has gone down by -7.62% for the week, with a -19.37% drop in the past month and a -41.14% drop in the past quarter. The volatility ratio for the week is 6.50%, and the volatility levels for the past 30 days are 4.22% for CNXC. The simple moving average for the last 20 days is -9.69% for CNXC stock, with a simple moving average of -29.96% for the last 200 days.

Is It Worth Investing in Concentrix Corp. (NASDAQ: CNXC) Right Now?

Concentrix Corp. (NASDAQ: CNXC) has a higher price-to-earnings ratio of 11.84x compared to its average ratio, The 36-month beta value for CNXC is at 0.55. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for CNXC is 47.58M, and currently, shorts hold a 4.60% of that float. The average trading volume for CNXC on April 04, 2024 was 527.04K shares.

CNXC) stock’s latest price update

The stock price of Concentrix Corp. (NASDAQ: CNXC) has plunged by -6.46 when compared to previous closing price of 61.46, but the company has seen a -7.62% decline in its stock price over the last five trading sessions. Seeking Alpha reported 2024-03-26 that Concentrix Corporation (CNXC) Q1 2024 Earnings Call Transcript

Analysts’ Opinion of CNXC

Many brokerage firms have already submitted their reports for CNXC stocks, with BofA Securities repeating the rating for CNXC by listing it as a “Underperform.” The predicted price for CNXC in the upcoming period, according to BofA Securities is $60 based on the research report published on March 27, 2024 of the current year 2024.

Redburn Atlantic, on the other hand, stated in their research note that they expect to see CNXC reach a price target of $70. The rating they have provided for CNXC stocks is “Neutral” according to the report published on September 06th, 2023.

Scotiabank gave a rating of “Sector Outperform” to CNXC, setting the target price at $120 in the report published on August 24th of the previous year.

CNXC Trading at -24.93% from the 50-Day Moving Average

After a stumble in the market that brought CNXC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.93% of loss for the given period.

Volatility was left at 4.22%, however, over the last 30 days, the volatility rate increased by 6.50%, as shares sank -17.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -43.67% lower at present.

During the last 5 trading sessions, CNXC fell by -7.62%, which changed the moving average for the period of 200-days by -31.28% in comparison to the 20-day moving average, which settled at $63.03. In addition, Concentrix Corp. saw -41.46% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CNXC starting from Hayley Kathryn, who purchase 379 shares at the price of $65.96 back on Apr 01 ’24. After this action, Hayley Kathryn now owns 2,534 shares of Concentrix Corp., valued at $25,000 using the latest closing price.

Fogarty Jane, the EVP, Legal of Concentrix Corp., purchase 200 shares at $89.27 during a trade that took place back on Jan 30 ’24, which means that Fogarty Jane is holding 5,388 shares at $17,853 based on the most recent closing price.

Stock Fundamentals for CNXC

Current profitability levels for the company are sitting at:

  • 0.08 for the present operating margin
  • 0.34 for the gross margin

The net margin for Concentrix Corp. stands at 0.04. The total capital return value is set at 0.06. Equity return is now at value 7.87, with 2.88 for asset returns.

Based on Concentrix Corp. (CNXC), the company’s capital structure generated 0.55 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 1.23. The interest coverage ratio of the stock is 2.62.

Currently, EBITDA for the company is 997.53 million with net debt to EBITDA at 5.1. When we switch over and look at the enterprise to sales, we see a ratio of 1.09. The receivables turnover for the company is 4.09for trailing twelve months and the total asset turnover is 0.64. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.56.

Conclusion

In conclusion, Concentrix Corp. (CNXC) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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