HCP, Inc. (NYSE:HCP) has been upgraded by Robert W. Baird, which now rates the stock as Outperform versus Neutral prior rating , according to a note issued on January 07. Analysts at KeyBanc Capital Mkts, shed their negative views on December 20 by lifting it fromSector Weight to Overweight. The stock won favor of RBC Capital Mkts analysts who expressed their confidence in it using an upgrade from Sector Perform to Outperform on November 02.
HCP, Inc. (HCP) hit an intraday high Thursday at $28.94. The shares finished at $28.87, after trading as low as $28.23 earlier in the session. It rose 1.26% in recent trade and currently has a stock-market value of $13.3B. Trading activity significantly weakened as the volume at ready counter decreased to 2,827,265 shares versus 4,136,520 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,600,614 shares. The stock is now 34.4% above against its bear-market low of $21.48 on March 01, 2018. It has retreated -4.81% since it’s 52-week high of $30.26 reached in December. Now the market price is up 17.84% on the year and up 3.37% YTD.
HCP’s 50 day simple moving average (SMA 50) price is $28.51 and its 200-day simple moving average (SMA 200) price is $25.88. The company’s stock currently has a total float of 460.58M shares. Its weekly volatility is hovering around 2.13% and felt 2.94% volatility in price over a month. On the upside, the share price will test short term resistance at around $29.13. On a downside, the stock is likely to find some support, which begins at $28.42. The failure to get near-term support could push it to $27.97.
Separately, it has been reported that multiple insider activity took place at HCP, Inc. (HCP). EVP and COO Klaritch Thomas sold 82,532 shares for $173,748 in transaction occurred on 2018/12/04. After making this transaction, the EVP and COO owns a direct stake of 2,435,519 shares, worth $5,016,105, as per the last closing price. On 2018/05/14 Griffin R Kent Jr, Director at HCP, purchased 21,100 shares at an average price of $23.8 per share. The new stake is valued at $882,700.
Senior Managing Director, Young Kendall K had invested in 14,000 shares for $62,544 through a trade on 2018/02/14. Following this activity, the insider holds 306,740 shares worth $1,805,645 as of recent close. Wall Street’s most bullish HCP, Inc. (NYSE:HCP) analysts are predicting the share price to blow past $33 per share during the next 12 months. The current median share price forecast by them is $29.25, suggesting that the stock could increase 1.32% in that time frame. The average price target of $29.67 calls for a nearly 2.77% increase in the stock price.
When looking at valuations, HCP, Inc. (HCP) has a pricey P/E of 72.9x as compared to industry average of 36.4x. Moreover, it trades for 48.12 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.68x price/book and 7.2x price/sales. Compared to others, HCP, Inc. is in a different league with regards to profitability, having net margins of 9.1%. To put some perspective around this, the industry’s average net margin is 37.44%. HCP’s ROE is 3.3%, which is also considerably worse than the industry’s ROE of 14.32%.
Shares of HCP, Inc. (HCP) have gained 4.2% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, HCP, Inc. (NYSE:HCP) has topped consensus earnings estimates in 1 quarters (8%), missed earnings in 11 quarters (91%), whereas at 0 occasion EPS met analyst expectations. HCP last reported earnings on October 31, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.44 per share, -71.97% change on the same period last year. That was better than consensus for $0.43. Revenue for the recent quarter stood at $456.02 million, down 0% on last year and above the $450.16 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $436.1 million to $460.27 million, which should be compared with $436.87 million generated last year. EPS is seen in a range of $0.43 to $0.45, against the $0.46 reported a year ago.