Cava Group Inc (NYSE:CAVA) traded with a subtraction of -$0.52 to $30.90 on Thursday, a downside of -1.65 percent. An average of 1,285,751 shares of common stock have been traded in the last five days. There was a gain of $0.21 in the past week. The last 20 days have seen an average of 1,674,473 shares traded, while the 50-day average volume stands at 1,633,939.
CAVA stock has decreased by -30.72% in the last month. The company shares reached their 1-month lowest point of $29.92 on 09/28/23. Shares of the company touched a low of $30.39 and a high of $58.10 in 52 weeks. In spite of this, the price is down -46.82% from the 52-week high.
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Financial Health
The quick ratio of Cava Group Inc for the three months ended June 29 was 3.22, and the current ratio was 3.27, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.54 and a total debt to equity ratio of 0.60 for the quarter ending June 29. Its gross profit as reported stood at $226.24 million compared to revenue of $564.12 million.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $6.54 million in the quarter, while revenues were grew 100.0%. The analyst consensus anticipated Cava Group Inc’s latest quarter earnings to come in at -$0.02 per share, but it turned out to be $0.21, a 1,150.00% surprise. For the quarter, EBITDA amounted to $16.47 million. Shareholders own equity worth $113.58 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cava Group Inc (CAVA) price momentum. RSI 9-day as of the close on 27 September was 24.67%, suggesting the stock is oversold, with historical volatility in this time frame at 44.76%.
As of today, CAVA’s price is $31.52 +0.69% or $0.21 from its 5-day moving average. CAVA is currently trading -32.75% lower than its 20-day SMA. However, the stock’s current price level is -36.93% below the SMA50.
The stochastic %K and %D were 10.95% and 12.30%, respectively, and the average true range (ATR) was 1.79. With the 14-day stochastic at 7.04% and the average true range at 2.02, the RSI (14) stands at 27.76%. The stock has reached -0.50 on the 9-day MACD Oscillator while the 14-day reading was at -2.00.
Analyst Ratings
Loop Capital launched coverage on Cava Group Inc (NYSE: CAVA) in its analyst report released on September 15, 2023. The firm assigned the stock a Hold rating. The consensus rating for Cava Group Inc (CAVA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CAVA, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is CAVA’s price target for the next 12 months?
Analysts predict a range of price targets between $40.00 and $58.00, with a median target of $50.00. Taking a look at these predictions, the average price target given by analysts for Cava Group Inc (CAVA) stock is $49.63.
