Stock analysts at JP Morgan cut their rating on shares of Taubman Centers, Inc. (NYSE:TCO) from Neutral to a new rating of Underweight in their opinion released on December 18. JP Morgan analysts have downgraded their rating of TCO shares from Overweight to Neutral in a separate flash note to investors on October 08. Analysts at Sandler O’Neill downgraded the company stock to a Hold call from its previous Buy stance, in a flash note that dated back to October 03.
Let’s take a glimpse at some insider activity at Taubman Centers, Inc. (NYSE:TCO) and observe the pattern. The earliest insider trade happened on 08/05/2019. EMBLER MICHAEL J gathered a total of 5 thousand shares of the firm at average share price of $39.11. The total amount for the purchase was set at $195.55 thousand. On completing this exchange, the Director account balance was 9.3 thousand shares. The stock lost -13.3 percent from that insider purchase. On 05/07/2019, Clark Mayree C, Director, did a purchase of 3 thousand shares at a price of $51.94 per share. This increased 155.82 thousand shares to the insider’s fortune and the stock experienced a -34.71 percent retreat in price since the news became public. This exchange saw 6.48 thousand shares get into the Director account. On 11/21/2018, President, CEO, AND Chair BOD TAUBMAN ROBERT S recorded a purchase transaction valued at $12.83 thousand. The purchase at $51.33 a share has added 0.25 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed -33.94 percent decrease since the transaction reporting date. The company insider is left with 1.31 million shares remaining in the account. Litt Jonathan, who works as Director at the company, performed a purchase of 1 thousand shares in a transaction worth $54.69 thousand. The acquisition recorded on 11/06/2018 was priced at $54.69 per share. The stock price plunged -38 percent since the transaction. Litt Jonathan currently holds a stake of 1.12 million in TCO stock which is worth $38 million after the insider buying.
Taubman Centers, Inc. (TCO) is most likely going to rise 11.11 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $55 as 12-month high price target. This represents a whopping 62.05 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $33, which means a return possibility of -2.77 percent in comparison with the closing price of the stock of $33.94 in recent trading session. The lowest price set for the stock is $27 which is just above -20.45 percent from TCO share’s price at the end of session.
The stock is lingering around the initial support level of $28.52. After this, the following support is at the zone of $25.57. Up until the time the TCO stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 63.64 on the daily chart, and this may be a cause for concern. In case the price goes below $25.57 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $33.25 level may cause a pull-back move approaching $35.03 mark.
In the recent trading session, Taubman Centers, Inc. (NYSE:TCO) shares gained 7.9% or 2.48 points to reach at $33.94 with a heavy trading volume of 1.387 million shares. It opened the trading session at $28.25, the shares rose to $32.09 and dropped to $27.36, the range by which the price of stock traded the whole session. The company now has a market cap of $1.98 billion and currently has 62.98 million outstanding shares. Taubman Centers, Inc. (TCO) stock has accumulated 2.48 percent of market value in 21 trading days.
TCO stock’s trailing 3-year beta is 0.69, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.69 share in the trailing 52 weeks. The stock’s value surged 1.19 percent year to date (YTD) compared to a decline of -36.33 percent in 52 week’s period. The firm’s shares are still trading -37.72 percent below its 1-year high of $54.50 and 29.36 percent up from 52-week low of $26.24. The average consensus ranking on the company is 3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a hold.
Taubman Centers, Inc. (TCO) shares are trading at a P/E ratio of 6.67 times earnings posted in the trailing 12 months. The industry TCO deals with has an average P/E of 34.87. Its P/B ratio is standing at 72.45X compared to the 6.64 industry average. It is additionally sporting a 3.83 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.25. Taubman Centers, Inc. has a 61.8% gross profit margin, with its operating margin around 0.3%. Alongside this, the company’s net profit margin currently stands at 36.8%.
Past records have indicated that shares in Taubman Centers, Inc. declined on 21 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of TCO’s Q4 earnings on February 12. Analysts are predicting revenue to climb 3.6 percent to $174M in the financial fourth quarter, while EPS will soar by about 460 percent to $0.28 per share. In the last quarter, it’s earnings of $0.78 per share came worse than the $0.88222, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $167.49M, missing the $168.91M analysts had expected. Earnings are seen to rise by 3.8 percent this year, 9.39 percent in the coming year and the trend continues by 5.84 percent every year in the next 5 years.