Stifel lifts Elanco Animal Health Inc [ELAN] price estimate. Who else is bullish?

Elanco Animal Health Inc [NYSE: ELAN] plunged by -$0.25 during the normal trading session on while it closed the day at $15.77. The company report on March 5, 2024 at 10:15 AM that The Cow is the How: Elanco Sees Methane Reduction as New Value Opportunity.

Elanco Animal Health CEO, Jeff Simmons joins Jim Cramer on Mad Money to discuss the company’s commitment to create solutions for farmers and ranchers that can reduce, measure, and monetize greenhouse gas emissions, including methane, which can help create new value to farmers and the food chain, as well as climate-neutral farms.

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For nearly 70 years, Elanco has pioneered ways to keep animals healthier. Now we’re focused on making them more sustainable too. As we continue to expand and innovate in this space and introduce new solutions, Elanco aims to build a portfolio that reduces cattle emissions by 40-50%. Our initial focus is on methane as the opportunity.

Elanco Animal Health Inc stock has also loss -1.38% of its value over the past 7 days. However, ELAN stock has inclined by 23.20% in the 3 months of the year. Over the past six months meanwhile, it has gained 33.87% and gained 5.84% year-on date.

The market cap for ELAN stock reached $7.77 billion, with 492.85 million shares outstanding and 488.20 million shares in the current float. Compared to the average trading volume of 4.89M shares, ELAN reached a trading volume of 3990734 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 $17.10 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. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on December 19, 2023, representing the official price target for Elanco Animal Health Inc stock. Previously, the target price had yet another raise to $16, while Morgan Stanley analysts kept a Overweight rating on ELAN stock.

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 1.76. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for ELAN in the course of the last twelve months was 59.34 with Quick ratio for the last quarter at 1.35.

ELAN stock trade performance evaluation

Elanco Animal Health Inc [ELAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.38. With this latest performance, ELAN shares dropped by -1.25% in over the last four-week period, additionally plugging by 33.87% over the last 6 months – not to mention a rise of 64.79% 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 47.87, with the RSI for the last a single of trading hit 42.10, and the three-weeks RSI is set at 51.82 for Elanco Animal Health Inc [ELAN]. The present Moving Average for the last 50 days of trading for this stock 15.54, while it was recorded at 16.12 for the last single week of trading, and 12.22 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 1.35 and a Current Ratio set at 2.75.

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 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 55.20%. 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 8.87%.

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%.