In the past week, ALE stock has gone up by 6.90%, with a monthly gain of 7.06% and a quarterly surge of 9.60%. The volatility ratio for the week is 2.50%, and the volatility levels for the last 30 days are 1.84% for Allete, Inc. The simple moving average for the last 20 days is 6.64% for ALE stock, with a simple moving average of 10.77% for the last 200 days.
Is It Worth Investing in Allete, Inc. (NYSE: ALE) Right Now?
Allete, Inc. (NYSE: ALE) has a price-to-earnings ratio that is above its average at 14.76x. The stock has a 36-month beta value of 0.78. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 1 as “sell.”
The public float for ALE is 57.42M, and at present, short sellers hold a 2.14% of that float. On May 06, 2024, the average trading volume of ALE was 295.01K shares.
ALE) stock’s latest price update
Allete, Inc. (NYSE: ALE)’s stock price has plunge by -1.20relation to previous closing price of 64.27. Nevertheless, the company has seen a 6.90% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-17 that ASO, ALE and AMR have been added to the Zacks Rank #5 (Strong Sell) List on April 17, 2023.
Analysts’ Opinion of ALE
Many brokerage firms have already submitted their reports for ALE stocks, with Guggenheim repeating the rating for ALE by listing it as a “Neutral.” The predicted price for ALE in the upcoming period, according to Guggenheim is $58 based on the research report published on January 22, 2024 of the current year 2024.
Sidoti, on the other hand, stated in their research note that they expect to see ALE reach a price target of $64. The rating they have provided for ALE stocks is “Neutral” according to the report published on January 10th, 2024.
BofA Securities gave a rating of “Underperform” to ALE, setting the target price at $54 in the report published on June 27th of the previous year.
ALE Trading at 8.33% from the 50-Day Moving Average
After a stumble in the market that brought ALE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.58% of loss for the given period.
Volatility was left at 1.84%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares surge +5.08% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.22% upper at present.
During the last 5 trading sessions, ALE rose by +6.95%, which changed the moving average for the period of 200-days by +7.66% in comparison to the 20-day moving average, which settled at $59.70. In addition, Allete, Inc. saw 3.83% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for ALE
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.23 for the gross margin
The net margin for Allete, Inc. stands at 0.12. The total capital return value is set at 0.03. Equity return is now at value 8.98, with 3.30 for asset returns.
Based on Allete, Inc. (ALE), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.33. The debt to equity ratio resting at 0.64. The interest coverage ratio of the stock is 2.24.
Currently, EBITDA for the company is 432.7 million with net debt to EBITDA at 3.27. When we switch over and look at the enterprise to sales, we see a ratio of 2.87. The receivables turnover for the company is 13.7for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.24.
Conclusion
To sum up, Allete, Inc. (ALE) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
