Tanger Inc (NYSE: SKT)’s stock price has increased by 0.38 compared to its previous closing price of 34.08. However, the company has seen a -3.39% decrease in its stock price over the last five trading sessions. zacks.com reported 2024-12-24 that After losing some value lately, a hammer chart pattern has been formed for Tanger (SKT), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
Is It Worth Investing in Tanger Inc (NYSE: SKT) Right Now?
The price-to-earnings ratio for Tanger Inc (NYSE: SKT) is 39.55x, which is above its average ratio. Moreover, the 36-month beta value for SKT is 1.87. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for SKT is 108.11M and currently, short sellers hold a 3.01% of that float. On December 25, 2024, SKT’s average trading volume was 713.31K shares.
SKT’s Market Performance
SKT’s stock has seen a -3.39% decrease for the week, with a -6.25% drop in the past month and a 5.29% gain in the past quarter. The volatility ratio for the week is 2.48%, and the volatility levels for the past 30 days are at 1.57% for Tanger Inc The simple moving average for the past 20 days is -4.27% for SKT’s stock, with a 12.71% simple moving average for the past 200 days.
Analysts’ Opinion of SKT
Many brokerage firms have already submitted their reports for SKT stocks, with Deutsche Bank repeating the rating for SKT by listing it as a “Hold.” The predicted price for SKT in the upcoming period, according to Deutsche Bank is $37 based on the research report published on December 17, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see SKT reach a price target of $40, previously predicting the price at $35. The rating they have provided for SKT stocks is “Buy” according to the report published on November 11th, 2024.
Scotiabank gave a rating of “Sector Perform” to SKT, setting the target price at $28 in the report published on May 17th of the current year.
SKT Trading at -2.85% 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 -8.94% of loss for the given period.
Volatility was left at 1.57%, however, over the last 30 days, the volatility rate increased by 2.48%, as shares sank -6.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.69% upper at present.
During the last 5 trading sessions, SKT fell by -3.39%, which changed the moving average for the period of 200-days by +17.24% in comparison to the 20-day moving average, which settled at $35.74. In addition, Tanger Inc saw 23.41% 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 Guerrieri Thomas Joseph JR, who sale 3,000 shares at the price of $36.27 back on Nov 19 ’24. After this action, Guerrieri Thomas Joseph JR now owns 59,641 shares of Tanger Inc, valued at $108,810 using the latest closing price.
Thomas J Guerrieri Jr, the Chief Accounting Officer of Tanger Inc, proposed sale 3,000 shares at $36.03 during a trade that took place back on Nov 19 ’24, which means that Thomas J Guerrieri Jr is holding shares at $108,100 based on the most recent closing price.
Stock Fundamentals for SKT
Current profitability levels for the company are sitting at:
- 0.35 for the present operating margin
- 0.5 for the gross margin
The net margin for Tanger Inc stands at 0.19. The total capital return value is set at 0.08. Equity return is now at value 17.92, with 4.23 for asset returns.
Based on Tanger Inc (SKT), the company’s capital structure generated 0.71 points at debt to capital in total, while cash flow to debt ratio is standing at 0.17. The debt to equity ratio resting at 2.51. The interest coverage ratio of the stock is 3.12.
Currently, EBITDA for the company is 242.73 million with net debt to EBITDA at 4.28. When we switch over and look at the enterprise to sales, we see a ratio of 10.28.
Conclusion
To wrap up, the performance of Tanger Inc (SKT) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
