Is EastGroup Properties Inc. (EGP) a good stock to buy now?

EastGroup Properties Inc. (NYSE: EGP) is -9.20% lower on its value in year-to-date trading and has touched a low of $83.40 and a high of $142.69 in the current 52-week trading range. The EGP stock was last observed hovering at around $116.57 in the last trading session, with the day’s gains setting it 3.9% off its average median price target of $116.00 for the next 12 months. It is also 12.7% off the consensus price target high of $138.00 offered by 13 analysts, but current levels are -26.81% lower than the price target low of $95.00 for the same period.

Currently trading at $120.47, the stock is 1.84% and 4.58% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing 3.35% at the moment leaves the stock -1.68% off its SMA200. EGP registered 1.18% gain for a year compared to 6-month loss of -10.69%. The firm has a 50-day simple moving average (SMA 50) of $119.17 and a 200-day simple moving average (SMA200) of $118.39.

The stock witnessed a -1.54% gain in the last 1 month and extending the period to 3 months gives it a 12.13%, and is 2.24% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.80% over the week and 2.91% over the month.

EastGroup Properties Inc. (EGP) has around 75 employees, a market worth around $4.55B and $341.20M in sales. Current P/E ratio is 37.59 and Fwd P/E is 51.97. Profit margin for the company is 35.90%. Distance from 52-week low is 44.45% and -15.57% from its 52-week high. The company has generated returns on investments over the last 12 months (4.80%).

EastGroup Properties Inc. (EGP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for EastGroup Properties Inc. (EGP) is a “Hold”. 13 analysts offering their recommendations for the stock have an average rating of 2.70, where 10 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

EastGroup Properties Inc. is expected to release its quarterly report on 07/28/2020 and quarterly earnings per share for the current quarter are estimated at $0.55 with sales reaching $88.55M over the same period.The EPS is expected to grow by 30.10% this year, but quarterly earnings will post 8.00% year-over-year.

EastGroup Properties Inc. (EGP) Top Institutional Holders

422 institutions hold shares in EastGroup Properties Inc. (EGP), with 758.69k shares held by insiders accounting for 1.95% while institutional investors hold 95.60% of the company’s shares. The shares outstanding are 38.88M, and float is at 38.27M with Short Float at 2.05%. Institutions hold 93.73% of the Float.

EastGroup Properties Inc. (EGP) Insider Activity

A total of 35 insider transactions have happened at EastGroup Properties Inc. (EGP) in the last six months, with sales accounting for 9 and purchases happening 26 times. The most recent transaction is an insider sale by BAILEY H C JR, the company’s Director. SEC filings show that BAILEY H C JR sold 500 shares of the company’s common stock on Jun 01 at a price of $117.08 per share for a total of $58540.0. Following the sale, the insider now owns 3832.0 shares.

EastGroup Properties Inc. disclosed in a document filed with the SEC on Feb 11 that BAILEY H C JR (Director) sold a total of 403 shares of the company’s common stock. The trade occurred on Feb 11 and was made at $140.01 per share for $56424.0. Following the transaction, the insider now directly holds 3400.0 shares of the EGP stock.

Still, SEC filings show that on Oct 28, HOSTER DAVID H II (Director) disposed off 6,000 shares at an average price of $132.84 for $0.8 million. The insider now directly holds 167,646 shares of EastGroup Properties Inc. (EGP).

EastGroup Properties Inc. (EGP): Who are the competitors?

The company’s main competitors (and peers) include First Industrial Realty Trust Inc. (FR) that is trading 4.11% up over the past 12 months. Prologis Inc. (PLD) is 15.66% up on the 1-year trading charts. Short interest in the company’s stock has risen 0.07% from the last report on May 28, 2020 to stand at a total of 0.78 million short shares sold with a short interest ratio of 2.45.