Market Analysts see Elanco Animal Health Inc [ELAN] gaining to $20. Time to buy?

Elanco Animal Health Inc [NYSE: ELAN] surged by $0.35 during the normal trading session on while it closed the day at $16.41. The company report on February 9, 2024 at 10:15 AM that Athian and Elanco Animal Health Team Up to Transform Food Production through Methane Reduction.

CEOs speaking at Reuters Transform Food Today Announce the First-of-its-Kind Livestock Carbon Inset Market has First Carbon Credits Verified for Sale.

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Athian (athian.ai) announced the establishment of the first-of-its-kind voluntary livestock carbon insetting marketplace, with the first accepted protocol aimed at reducing enteric methane emissions and improving feed utilization by using innovative feed management products from Elanco Animal Health (NYSE:ELAN). This new carbon marketplace creates an opportunity for farmers to monetize their greenhouse gas emission reductions.

Elanco Animal Health Inc stock has also gained 3.40% of its value over the past 7 days. However, ELAN stock has inclined by 44.71% in the 3 months of the year. Over the past six months meanwhile, it has gained 42.20% and gained 10.13% year-on date.

The market cap for ELAN stock reached $8.09 billion, with 492.80 million shares outstanding and 486.02 million shares in the current float. Compared to the average trading volume of 4.99M shares, ELAN reached a trading volume of 3650048 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 Elanco Animal Health Inc [ELAN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELAN shares is $16.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELAN stock is a recommendation set at 2.00. 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.

Stifel have made an estimate for Elanco Animal Health Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 05, 2024.

The Average True Range (ATR) for Elanco Animal Health Inc is set at 0.47, with the Price to Sales ratio for ELAN stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 0.75.

ELAN stock trade performance evaluation

Elanco Animal Health Inc [ELAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.40. With this latest performance, ELAN shares gained by 10.88% in over the last four-week period, additionally plugging by 42.20% over the last 6 months – not to mention a rise of 27.31% 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 ELAN stock in for the last two-week period is set at 66.38, with the RSI for the last a single of trading hit 68.15, and the three-weeks RSI is set at 65.61 for Elanco Animal Health Inc [ELAN]. The present Moving Average for the last 50 days of trading for this stock 14.73, while it was recorded at 16.06 for the last single week of trading, and 11.60 for the last 200 days.

Elanco Animal Health Inc [ELAN]: An insightful look at the core fundamentals

Elanco Animal Health Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.48 and a Current Ratio set at 2.82.

Earnings per share (EPS) analysis for Elanco Animal Health Inc [ELAN] stock

With the latest financial reports released by the company, Elanco Animal Health Inc posted 0.19/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 46.20%. 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 ELAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elanco Animal Health Inc go to -1.80%.

Elanco Animal Health Inc [ELAN]: Institutional Ownership

The top three institutional holders of ELAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ELAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ELAN stock with ownership which is approximately 5.8325%.