Concentrix Corp. (NASDAQ:CNXC) traded with an addition of $8.13 to $82.10 on Thursday, an upside of 10.99 percent. An average of 474,501 shares of common stock have been traded in the last five days. There was a gain of $8.35 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 399,450 shares traded, while the 50-day average volume stands at 350,500.
CNXC stock has increased by 5.03% in the last month. The company shares reached their 1-month lowest point of $70.58 on 09/08/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $70.58 and a high of $151.82 in 52 weeks. It has reached a new high 10 times so far this year and lost -38.34% or -$51.26 in price. In spite of this, the price is down -45.92% from the 52-week high.
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Insider Transactions
CNXC stock investors should be aware that Concentrix Corp. (CNXC) stock had its last reported insider trading activity 211 days ago on Jul 05. In this transaction, the insider spent $1,363,052. EVP, Global Ops & Delivery, Twomey Cormac J, disposed of 3,631 shares at a price of $150.00 on Feb 02. The insider now owns more than $544,650 worth of shares. Prior to that, Director POLK DENNIS went on to Sale 10,000 shares at $140.97 each on Feb 01. An amount of $1,409,666 was transacted.
Valuation Metrics
Concentrix Corp. (CNXC) has a trailing price-to-earnings (P/E) ratio of 12.29, which compares with the N/A for the broader industry. The stock’s beta is 0.54. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.65, the price-to-book (PB) ratio at 1.44, and the price-to-cash flow ratio at 8.81.
The company has a payout ratio of 12.38%. The company’s most recent quarterly dividend payment was $0.2750 a share, without any change from last year. Its latest increase dividend $0.0250 reported on Wednesday September 28 2022.
Financial Health
The quick ratio of Concentrix Corp. for the three months ended August 30 was 1.74, and the current ratio was 3.54, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.37 and a total debt to equity ratio of 1.37 for the quarter ending August 30. Concentrix Corp.’s EBITDA margin for the year ending August 30 is 16.12%, while its operating margin for the same period stands at 11.48%. Its gross profit as reported stood at $2.26 billion compared to revenue of $6.32 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, Concentrix Corp.’s return on assets was 4.52%.
Earnings Surprise
For the three-month period that ended August 30, Concentrix Corp. had $2.13 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $78.85 million in the quarter, while revenues of $87.87 million were shrunk -43.49%. The analyst consensus anticipated Concentrix Corp.’s latest quarter earnings to come in at $2.84 per share, but it turned out to be $2.71, a -4.60% surprise. For the quarter, EBITDA amounted to $240.2 million. Shareholders own equity worth $52.05 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Concentrix Corp. (CNXC) price momentum. RSI 9-day as of the close on 27 September was 70.21%, suggesting the stock is Overbought, with historical volatility in this time frame at 61.63%.
As of today, CNXC’s price is $74.81 +11.35% or $8.35 from its 5-day moving average. CNXC is currently trading +2.94% higher than its 20-day SMA and -5.78% lower than its 100-day SMA. However, the stock’s current price level is -2.14% below the SMA50 and -33.55% below the SMA200.
The stochastic %K and %D were 58.36% and 40.91%, respectively, and the average true range (ATR) was 2.97. With the 14-day stochastic at 93.53% and the average true range at 2.67, the RSI (14) stands at 63.83%. The stock has reached 1.33 on the 9-day MACD Oscillator while the 14-day reading was at 1.72.
Analyst Ratings
Redburn Atlantic launched coverage on Concentrix Corp. (NASDAQ: CNXC) in its analyst report released on September 06, 2023. The firm assigned the stock a Neutral rating. The consensus rating for Concentrix Corp. (CNXC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CNXC, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is CNXC’s price target for the next 12 months?
Analysts predict a range of price targets between $70.00 and $125.00, with a median target of $98.00. Taking a look at these predictions, the average price target given by analysts for Concentrix Corp. (CNXC) stock is $101.60.
