Concentrix Corp. (NASDAQ: CNXC) has a higher price-to-earnings ratio of 14.57x compared to its average ratio, The 36-month beta value for CNXC is at 0.67. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 as “hold,” and 1 as “sell.”
The public float for CNXC is 46.33M, and currently, shorts hold a 6.76% of that float. The average trading volume for CNXC on September 20, 2024 was 423.10K shares.
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CNXC) stock’s latest price update
The stock of Concentrix Corp. (NASDAQ: CNXC) has decreased by -1.69 when compared to last closing price of 64.17.Despite this, the company has seen a loss of -6.69% in its stock price over the last five trading days. seekingalpha.com reported 2024-09-19 that Concentrix’s Q3 report is due next week; past performance shows no growth and decreased efficiency, leading to a 30% stock decline. Revenue growth mainly from WebHelp merger; organic growth flat, with margins impacted by increased R&D spending, affecting ROA and ROE negatively. The company’s financial health is concerning with high debt and low interest coverage ratio, necessitating a conservative valuation approach.
CNXC’s Market Performance
CNXC’s stock has fallen by -6.69% in the past week, with a monthly drop of -8.05% and a quarterly rise of 4.00%. The volatility ratio for the week is 3.40% while the volatility levels for the last 30 days are 3.55% for Concentrix Corp. The simple moving average for the last 20 days is -10.17% for CNXC’s stock, with a simple moving average of -12.66% for the last 200 days.
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 “Neutral.” The predicted price for CNXC in the upcoming period, according to BofA Securities is $85 based on the research report published on August 28, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see CNXC reach a price target of $60, previously predicting the price at $85. The rating they have provided for CNXC stocks is “Underperform” according to the report published on March 27th, 2024.
Redburn Atlantic gave a rating of “Neutral” to CNXC, setting the target price at $70 in the report published on September 06th of the previous year.
CNXC Trading at -7.71% 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 -40.54% of loss for the given period.
Volatility was left at 3.55%, however, over the last 30 days, the volatility rate increased by 3.40%, as shares sank -7.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.67% lower at present.
During the last 5 trading sessions, CNXC fell by -7.23%, which changed the moving average for the period of 200-days by -36.00% in comparison to the 20-day moving average, which settled at $69.99. In addition, Concentrix Corp. saw -35.76% 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 Twomey Cormac J, who sale 400 shares at the price of $74.63 back on Aug 29 ’24. After this action, Twomey Cormac J now owns 29,327 shares of Concentrix Corp., valued at $29,852 using the latest closing price.
CORMAC TWOMEY, the Officer of Concentrix Corp., proposed sale 400 shares at $74.63 during a trade that took place back on Aug 29 ’24, which means that CORMAC TWOMEY is holding shares at $29,852 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
- 0.32 for the gross margin
The net margin for Concentrix Corp. stands at 0.03. The total capital return value is set at 0.07. Equity return is now at value 7.45, with 2.77 for asset returns.
Based on Concentrix Corp. (CNXC), the company’s capital structure generated 0.56 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.26. The interest coverage ratio of the stock is 2.47.
Currently, EBITDA for the company is 997.53 million with net debt to EBITDA at 4.57. When we switch over and look at the enterprise to sales, we see a ratio of 1.1. The receivables turnover for the company is 4.62for trailing twelve months and the total asset turnover is 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.54.
Conclusion
In conclusion, Concentrix Corp. (CNXC) has had a bad performance lately. Opinion on the stock among analysts is bullish, 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.
