The price-to-earnings ratio for Tanger Inc. (NYSE: SKT) is above average at 29.37x. The 36-month beta value for SKT is also noteworthy at 1.82. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 9 rating it as “hold,” and 0 rating it as “sell.”
The public float for SKT is 105.93M, and at present, short sellers hold a 4.21% of that float. The average trading volume of SKT on April 12, 2024 was 800.42K shares.
SKT) stock’s latest price update
The stock price of Tanger Inc. (NYSE: SKT) has dropped by -0.07 compared to previous close of 27.07. Despite this, the company has seen a fall of -1.53% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-03 that The Zacks REIT and Equity Trust – Retail industry stocks EPRT and SKT are in focus amid limited supply and an emphasis on omnichannel retailing, adaptability and essential retail tenants.
SKT’s Market Performance
SKT’s stock has fallen by -1.53% in the past week, with a monthly drop of -7.43% and a quarterly drop of -1.13%. The volatility ratio for the week is 1.86% while the volatility levels for the last 30 days are 2.04% for Tanger Inc. The simple moving average for the last 20 days is -5.05% for SKT’s stock, with a simple moving average of 6.59% for the last 200 days.
Analysts’ Opinion of SKT
Many brokerage firms have already submitted their reports for SKT stocks, with BofA Securities repeating the rating for SKT by listing it as a “Neutral.” The predicted price for SKT in the upcoming period, according to BofA Securities is $31 based on the research report published on April 05, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see SKT reach a price target of $33, previously predicting the price at $30. The rating they have provided for SKT stocks is “Buy” according to the report published on March 22nd, 2024.
JP Morgan gave a rating of “Overweight” to SKT, setting the target price at $29 in the report published on December 18th of the previous year.
SKT Trading at -4.19% from the 50-Day Moving Average
After a stumble in the market that brought SKT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.77% of loss for the given period.
Volatility was left at 2.04%, however, over the last 30 days, the volatility rate increased by 1.86%, as shares sank -7.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.64% lower at present.
During the last 5 trading sessions, SKT fell by -1.53%, which changed the moving average for the period of 200-days by +29.36% in comparison to the 20-day moving average, which settled at $28.38. In addition, Tanger Inc. saw -2.42% 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 SKT starting from Guerrieri Thomas Joseph JR, who sale 3,000 shares at the price of $29.27 back on Mar 12 ’24. After this action, Guerrieri Thomas Joseph JR now owns 63,782 shares of Tanger Inc., valued at $87,810 using the latest closing price.
REDDIN THOMAS, the Director of Tanger Inc., sale 5,000 shares at $29.00 during a trade that took place back on Feb 21 ’24, which means that REDDIN THOMAS is holding 46,602 shares at $145,000 based on the most recent closing price.
Stock Fundamentals for SKT
Current profitability levels for the company are sitting at:
- 0.36 for the present operating margin
- 0.62 for the gross margin
The net margin for Tanger Inc. stands at 0.21. The total capital return value is set at 0.08. Equity return is now at value 18.56, with 4.32 for asset returns.
Based on Tanger Inc. (SKT), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 2.56. The interest coverage ratio of the stock is 6.89.
Currently, EBITDA for the company is 242.73 million with net debt to EBITDA at 5.44. When we switch over and look at the enterprise to sales, we see a ratio of 9.6. The receivables turnover for the company is 9.5for trailing twelve months and the total asset turnover is 0.2.
Conclusion
In summary, Tanger Inc. (SKT) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as 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.
