Better Times Ahead For Fabrinet (NYSE: FN)?

Fabrinet (FN) concluded trading on Thursday at a closing price of $189.02, with 0.43 million shares of worth about $80.44 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.94% during that period and on March 28, 2024 the price saw a loss of about -1.23%. Currently the company’s common shares owned by public are about 36.18M shares, out of which, 36.08M shares are available for trading.

Stock saw a price change of -8.60% in past 5 days and over the past one month there was a price change of -7.32%. Year-to-date (YTD), FN shares are showing a performance of -0.69% which increased to 68.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $90.19 but also hit the highest price of $229.02 during that period. The average intraday trading volume for Fabrinet shares is 445.58K. The stock is currently trading -7.72% below its 20-day simple moving average (SMA20), while that difference is down -7.14% for SMA50 and it goes to 13.29% higher than SMA200.

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Fabrinet (NYSE: FN) currently have 36.18M outstanding shares and institutions hold larger chunk of about 101.88% of that.

The stock has a current market capitalization of $6.86B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 27.28, while it has posted earnings per share of $6.93 in the same period. Its PEG reads 3.04 and has Quick Ratio of 2.86 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FN, volatility over the week remained 3.51% while standing at 3.78% over the month.

Analysts are in expectations that Fabrinet (FN) stock would likely to be making an EPS of $2.11 in the current quarter, while forecast for next quarter EPS is $2.18 and it is $9.28 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.1 which is $2.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.94 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.90% while it is estimated to increase by 11.87% in next year. EPS is likely to shrink at an annualized rate of 8.96% for next 5-years, compared to annual growth of 24.38% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on March 21, 2024 offering an Outperform rating for the stock and assigned a target price range of between $200 and $220 to it. Coverage by Northland Capital stated Fabrinet (FN) stock as a Market perform in their note to investors on February 06, 2024, suggesting a price target of $200 for the stock. On January 08, 2024, JP Morgan Downgrade their recommendations, while on October 05, 2023, Rosenblatt Initiated their ratings for the stock with a price target of $230. Stock get a Buy rating from Needham on August 22, 2023.

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