Eaton Corporation plc [NYSE: ETN] loss -2.56% on the last trading session, reaching $316.17 price per share at the time.
If compared to the average trading volume of 2.17M shares, ETN reached a trading volume of 4098213 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying about Eaton Corporation plc [ETN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETN shares is $342.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETN stock is a recommendation set at 1.91. 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.
Wolfe Research have made an estimate for Eaton Corporation plc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 08, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $286 to $371. The new note on the price target was released on April 05, 2024, representing the official price target for Eaton Corporation plc stock. Previously, the target price had yet another raise from $250 to $300, while Barclays kept a Equal Weight rating on ETN stock.
The Average True Range (ATR) for Eaton Corporation plc is set at 8.44, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 5.34. The Price to Book ratio for the last quarter was 6.55, with the Price to Cash per share for the same quarter was set at 6.11. Price to Free Cash Flow for ETN in the course of the last twelve months was 42.85 with Quick ratio for the last quarter at 1.05.
Trading performance analysis for ETN stock
Eaton Corporation plc [ETN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.28. With this latest performance, ETN shares dropped by -1.35% in over the last four-week period, additionally plugging by 37.19% over the last 6 months – not to mention a rise of 69.55% 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 ETN stock in for the last two-week period is set at 38.53, with the RSI for the last a single of trading hit 29.01, and the three-weeks RSI is set at 44.52 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 322.71, while it was recorded at 328.11 for the last single week of trading, and 260.67 for the last 200 days.
Eaton Corporation plc [ETN]: A deeper dive into fundamental analysis
Eaton Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.56.
Eaton Corporation plc [ETN]: An earnings per share (EPS) analysis
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 ETN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Eaton Corporation plc go to 14.05%.
An analysis of Institutional ownership at Eaton Corporation plc [ETN]
The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ETN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ETN stock with ownership which is approximately 5.8386%.
