Agree Realty Corporation (NYSE:ADC) finished Friday with an addition of $0.05 to close at $63.63, an upside of 0.08 percent. An average of 626,100 shares of common stock have been traded in the last five days. There was a fall of -$0.98 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 917,575 shares traded, while the 50-day average volume stands at 1,109,792.
ADC stock has decreased by -2.94% in the last month. The company shares reached their 1-month lowest point of $62.67 on 08/02/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $62.67 and a high of $80.44 in 52 weeks. It has reached a new high 7 times so far this year and lost -10.29% or -$7.30 in price. In spite of this, the price is down -20.90% from the 52-week high.
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Valuation Metrics
Agree Realty Corporation (ADC) has a trailing price-to-earnings (P/E) ratio of 36.17. The stock’s beta is 0.46. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.66, the price-to-book (PB) ratio at 1.23.
Financial Health
Further, the company has a long term debt to equity ratio of 0.45 and a total debt to equity ratio of 0.45 for the quarter ending June 29. Its gross profit as reported stood at $218.09 million compared to revenue of $429.81 million.
Earnings Surprise
For the three-month period that ended June 29, Agree Realty Corporation had $47.7 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $39.01 million in the quarter, while revenues of $39.76 million were grew 12.2%. The analyst consensus anticipated Agree Realty Corporation’s latest quarter earnings to come in at $0.43 per share, but it turned out to be $0.42, a -2.30% surprise. For the quarter, EBITDA amounted to $114.2 million. At the end of the quarter ending June 29, Agree Realty Corporation’s stock balance sheet showed total debt was $2.17 billion. Shareholders own equity worth $96.27 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Agree Realty Corporation (ADC) price momentum. RSI 9-day as of the close on 11 August was 37.91%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.79%.
As of today, ADC’s price is $64.01 -1.52% or -$0.98 from its 5-day moving average. ADC is currently trading -2.88% lower than its 20-day SMA and -7.57% lower than its 100-day SMA. However, the stock’s current price level is -1.33% below the SMA50 and -2.87% below the SMA200.
The stochastic %K and %D were 17.15% and 19.83%, respectively, and the average true range (ATR) was 1.16. With the 14-day stochastic at 14.57% and the average true range at 1.14, the RSI (14) stands at 40.32%. The stock has reached -0.30 on the 9-day MACD Oscillator while the 14-day reading was at -1.30.
Analyst Ratings
Mizuho upgraded Agree Realty Corporation (NYSE: ADC) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Agree Realty Corporation (ADC) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ADC, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 11 others rate it as a “buy”.
What is ADC’s price target for the next 12 months?
Analysts predict a range of price targets between $67.00 and $81.00, with a median target of $76.00. Taking a look at these predictions, the average price target given by analysts for Agree Realty Corporation (ADC) stock is $75.65.
