AmerisourceBergen Corporation (ABC): Here Are Some Research Recommendations

AmerisourceBergen Corporation (NYSE:ABC) finished Friday with an addition of $0.61 to close at $123.32, an upside of 0.50 percent. An average of 505,920 shares of common stock have been traded in the last five days. There was a gain of $3.46 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 792,985 shares traded, while the 50-day average volume stands at 735,876.

ABC stock has increased by 0.63% in the last month. The company shares reached their 1-month lowest point of $114.74 on 10/06/21. With the stock rallying to its 52-week high on 08/04/21, shares of the company touched a low of $92.24 and a high of $128.87 in 52 weeks. It has reached a new high 23 times so far this year and achieved 26.15% or $25.56 in price. In spite of this, the price is down -4.31% from the 52-week high.


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Insider Transactions

11 days have passed since AmerisourceBergen Corporation (ABC) last reported insider trading activity. COLLIS STEVEN H, who is Chairman, President & CEO, most recently acquired $24,265 shares at $119.79 per share on Oct 12. In this transaction, the insider spent $2,906,704. Chairman, President & CEO, COLLIS STEVEN H, disposed of 24,265 shares at a price of $121.90 on Sep 20. The insider now owns more than $2,957,904 worth of shares. Prior to that, SVP & Chief Accounting Officer Krikorian Lazarus went on to Sale 17,673 shares at $124.51 each on Sep 02. An amount of $2,200,465 was transacted.

Valuation Metrics

AmerisourceBergen Corporation (ABC) has a trailing price-to-earnings (P/E) ratio of 25.20 for the broader industry and 33.43 for the sector. In the last five years, AmerisourceBergen Corporation’s PE ratio has ranged between 50.70 and 9.397. The stock’s beta is 0.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.13, the price-to-book (PB) ratio at 685.11, and the price-to-cash flow ratio at 11.66.

AmerisourceBergen Corporation pays a $1.76 dividend per share annually. It offers a dividend yield of 1.43%. The company’s most recent quarterly dividend payment took place on Sep. 7, and it was $0.44 a share, without any change from last year. Its dividend has been increased for the last 2 consecutive years with the latest increase dividend $0.02 reported on Thursday November 5 2020.Dividends have grown by 15.25% each year over the last three years.

The quick ratio of AmerisourceBergen Corporation for the three months ended June 29 was 0.60, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 174.93 and a total debt to equity ratio of 186.92 for the quarter ending June 29. AmerisourceBergen Corporation’s EBITDA margin for the year ending June 29 is 1.28%, while its operating margin for the same period stands at -2.10%. Its gross profit as reported stood at $5.19 billion compared to revenue of $189.89 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, AmerisourceBergen Corporation’s return on assets was -7.80%. For the broader industry, ROE averaged 1.09 over the past year.

Earnings Surprise

For the three-month period that ended June 29, AmerisourceBergen Corporation had $6.65 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $292.12 million in the quarter, while revenues of $435.27 million were grew 0.92%. The analyst consensus anticipated AmerisourceBergen Corporation’s latest quarter earnings to come in at $2.05 per share, but it turned out to be $2.16, a 5.40% surprise. For the quarter, EBITDA amounted to $751.85 million. Shareholders own equity worth $207.79 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at AmerisourceBergen Corporation (ABC) price momentum. RSI 9-day as of the close on 22 October was 62.48%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.74%.

As of today, ABC’s price is $121.30 +2.89% or $3.46 from its 5-day moving average. ABC is currently trading +0.83% higher than its 20-day SMA and +7.12% higher than its 100-day SMA. However, the stock’s current price level is +2.73% above the SMA50 and +11.98% above the SMA200.

The stochastic %K and %D were 89.01% and 74.92%, respectively, and the average true range (ATR) was 2.35. With the 14-day stochastic at 95.23% and the average true range at 2.40, the RSI (14) stands at 57.77%. The stock has reached 2.20 on the 9-day MACD Oscillator while the 14-day reading was at 2.70.

Analyst Ratings

Evercore ISI upgraded AmerisourceBergen Corporation (NYSE: ABC) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as an In-line. The consensus rating for AmerisourceBergen Corporation (ABC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ABC, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 9 others rate it as a “buy”.

What is ABC’s price target for the next 12 months?

Analysts predict a range of price targets between $125.00 and $165.00, with a median target of $141.00. Taking a look at these predictions, the average price target given by analysts for AmerisourceBergen Corporation (ABC) stock is $141.46.

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