Sunday, September 27, 2020

Tanger Factory Outlet Centers Inc. [SKT] is -60.15% lower this YTD. Is it still time to buy?

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Tanger Factory Outlet Centers Inc. [NYSE: SKT] closed the trading session at $5.87 on 09/04/20. The day’s price range saw the stock hit a low of $5.685, while the highest price level was $5.89. The company report on September 2, 2020 that Tanger Outlets and HeadCount Partner to Boost Voter Registration Ahead of 2020 Election.

Today, Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leader in the outlet industry, announced its partnership with HeadCount, a non-partisan, non-profit organization dedicated to promoting participation in democracy and voter registration among young people.

The stocks have a year to date performance of -60.15 percent and weekly performance of -1.34 percent. The stock has been moved at -42.68 percent over the last six months. The stock has performed -2.81 percent around the most recent 30 days and changed -39.61 percent over the most recent 3-months.

If compared to the average trading volume of 3.24M shares, SKT reached to a volume of 2507932 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Tanger Factory Outlet Centers Inc. [SKT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKT shares is $5.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKT stock is a recommendation set at 3.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Tanger Factory Outlet Centers Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Compass Point raised their target price to Sell. The new note on the price target was released on June 04, 2020, representing the official price target for Tanger Factory Outlet Centers Inc. stock. On May 09, 2019, analysts decreased their price target for SKT shares from 19.80 to 15.

The Average True Range (ATR) for Tanger Factory Outlet Centers Inc. is set at 0.29, with the Price to Sales ratio for SKT stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 1.74, with the Price to Cash per share for the same quarter was set at 3.72. Price to Free Cash Flow for SKT in the course of the last twelve months was 74.26.

SKT stock trade performance evaluation

Tanger Factory Outlet Centers Inc. [SKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.34. With this latest performance, SKT shares dropped by -2.81% in over the last four-week period, additionally sinking by -42.68% over the last 6 months – not to mention a drop of -61.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKT stock in for the last two-week period is set at 45.75, with the RSI for the last a single of trading hit 47.41, and the three-weeks RSI is set at 44.65 for Tanger Factory Outlet Centers Inc. [SKT]. The present Moving Average for the last 50 days of trading for this stock 6.41, while it was recorded at 5.70 for the last single week of trading, and 9.49 for the last 200 days.

Tanger Factory Outlet Centers Inc. [SKT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Tanger Factory Outlet Centers Inc. [SKT] shares currently have an operating margin of +17.00 and a Gross Margin at +41.41. Tanger Factory Outlet Centers Inc.’s Net Margin is presently recorded at +17.97.

Return on Total Capital for SKT is now 3.78, given the latest momentum, and Return on Invested Capital for the company is 4.05. Return on Equity for this stock inclined to 18.94, with Return on Assets sitting at 3.71. When it comes to the capital structure of this company, Tanger Factory Outlet Centers Inc. [SKT] has a Total Debt to Total Equity ratio set at 383.42. Additionally, SKT Total Debt to Total Capital is recorded at 79.31, with Total Debt to Total Assets ending up at 72.69. Long-Term Debt to Equity for the company is recorded at 381.31, with the Long-Term Debt to Total Capital now at 78.88.

Reflecting on the efficiency of the workforce at the company, Tanger Factory Outlet Centers Inc. [SKT] managed to generate an average of $136,036 per employee.

Earnings per share (EPS) analysis for Tanger Factory Outlet Centers Inc. [SKT] stock

With the latest financial reports released by the company, Tanger Factory Outlet Centers Inc. posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tanger Factory Outlet Centers Inc. go to 6.70%.

Tanger Factory Outlet Centers Inc. [SKT]: Insider Ownership positions

There are presently around $445 million, or 82.30% of SKT stock, in the hands of institutional investors. The top three institutional holders of SKT stocks are: BLACKROCK INC. with ownership of 16,108,902, which is approximately -0.538% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 14,975,403 shares of the stock with an approximate value of $87.91 million in SKT stocks shares; and STATE STREET CORP, currently with $29.55 million in SKT stock with ownership of nearly -4.519% of the company’s market capitalization.

Positions in Tanger Factory Outlet Centers Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 126 institutional holders increased their position in Tanger Factory Outlet Centers Inc. [NYSE:SKT] by around 8,043,938 shares. Additionally, 148 investors decreased positions by around 12,560,496 shares, while 40 investors held positions by with 55,163,949 shares. The mentioned changes placed institutional holdings at 75,768,383 shares, according to the latest SEC report filing. SKT stock had 45 new institutional investments in for a total of 3,503,410 shares, while 55 institutional investors sold positions of 3,520,332 shares during the same period.

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