In the past week, SKT stock has gone up by 1.27%, with a monthly gain of 11.52% and a quarterly surge of 19.17%. The volatility ratio for the week is 1.90%, and the volatility levels for the last 30 days are 1.90% for Tanger Inc. The simple moving average for the last 20 days is 4.37% for SKT stock, with a simple moving average of 14.15% for the last 200 days.
Is It Worth Investing in Tanger Inc. (NYSE: SKT) Right Now?
The price-to-earnings ratio for Tanger Inc. (NYSE: SKT) is above average at 35.56x, Company’s 36-month beta value is 1.83.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 9 as “hold,” and 0 as “sell.”
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The public float for SKT is 106.72M, and currently, short sellers hold a 3.79% ratio of that floaft. The average trading volume of SKT on September 20, 2024 was 748.71K shares.
SKT) stock’s latest price update
Tanger Inc. (NYSE: SKT) has seen a rise in its stock price by 2.08 in relation to its previous close of 31.30. However, the company has experienced a 1.27% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-16 that Brixmor Property, Tanger and Saul Centers have been highlighted in this Industry Outlook article.
Analysts’ Opinion of SKT
Many brokerage firms have already submitted their reports for SKT stocks, with Scotiabank repeating the rating for SKT by listing it as a “Sector Perform.” The predicted price for SKT in the upcoming period, according to Scotiabank is $28 based on the research report published on May 17, 2024 of the current year 2024.
Compass Point, on the other hand, stated in their research note that they expect to see SKT reach a price target of $32, previously predicting the price at $31. The rating they have provided for SKT stocks is “Buy” according to the report published on May 02nd, 2024.
BofA Securities gave a rating of “Neutral” to SKT, setting the target price at $31 in the report published on April 05th of the current year.
SKT Trading at 10.09% 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 -0.31% of loss for the given period.
Volatility was left at 1.90%, however, over the last 30 days, the volatility rate increased by 1.90%, as shares surge +11.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.73% upper at present.
During the last 5 trading sessions, SKT rose by +1.27%, which changed the moving average for the period of 200-days by +22.98% in comparison to the 20-day moving average, which settled at $30.77. In addition, Tanger Inc. saw 15.26% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SKT starting from Swanson Gallardo Leslie, who sale 17,900 shares at the price of $30.74 back on Sep 09 ’24. After this action, Swanson Gallardo Leslie now owns 85,396 shares of Tanger Inc., valued at $550,246 using the latest closing price.
LESLIE A SWANSON GALLARDO, the Officer of Tanger Inc., proposed sale 17,900 shares at $30.74 during a trade that took place back on Sep 09 ’24, which means that LESLIE A SWANSON GALLARDO is holding shares at $550,307 based on the most recent closing price.
Stock Fundamentals for SKT
Current profitability levels for the company are sitting at:
- 0.34 for the present operating margin
- 0.5 for the gross margin
The net margin for Tanger Inc. stands at 0.2. The total capital return value is set at 0.08. Equity return is now at value 18.75, with 4.34 for asset returns.
Based on Tanger Inc. (SKT), the company’s capital structure generated 0.73 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 2.64. The interest coverage ratio of the stock is 5.54.
Currently, EBITDA for the company is 242.73 million with net debt to EBITDA at 5.24. When we switch over and look at the enterprise to sales, we see a ratio of 10.12. The receivables turnover for the company is 10.17for trailing twelve months and the total asset turnover is 0.22.
Conclusion
In a nutshell, Tanger Inc. (SKT) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
