Allete, Inc. [ALE] stock prices are down -1.33% to $63.79 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The ALE shares have lost -1.19% over the last week, with a monthly amount glided 2.82%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Allete, Inc. [NYSE: ALE] stock has seen the most recent analyst activity on January 22, 2024, when Guggenheim upgraded its rating to a Neutral but kept the price target unchanged to $58 for it. Previously, Sidoti downgraded its rating to Neutral on January 10, 2024, and kept the price target unchanged to $64. On June 27, 2023, downgrade downgraded it’s rating to Underperform and revised its price target to $54 on the stock. BofA Securities downgraded its rating to a Neutral and decreased its price target to $63 on May 05, 2023. Sidoti upgraded its rating to a Buy but $74 remained the price target by the analyst firm on April 06, 2023. Guggenheim downgraded its rating to Sell for this stock on January 23, 2023, and upped its price target to $54. In a note dated November 17, 2022, JP Morgan upgraded an Neutral rating on this stock but restated the target price of $65.
The stock price of Allete, Inc. [ALE] has been fluctuating between $49.29 and $65.86 over the past year. Currently, Wall Street analysts expect the stock to reach $58 within the next 12 months. Allete, Inc. [NYSE: ALE] shares were valued at $63.79 at the most recent close of the market. An investor can expect a potential drop of -9.08% based on the average ALE price forecast.
Analyzing the ALE fundamentals
The Allete, Inc. [NYSE:ALE] reported sales of 1.54B for trailing twelve months, representing a drop of -33.54%. Gross Profit Margin for this corporation currently stands at 0.18% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.14%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.08 and Total Capital is 0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.64.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 63.44 points at the first support level, and at 63.08 for the second support level. However, for the 1st resistance point, the stock is sitting at 64.32, and for the 2nd resistance point, it is at 64.85.
Ratios To Look Out For
It’s worth pointing out that Allete, Inc. [NYSE:ALE]’s Current Ratio is 1.45. On the other hand, the Quick Ratio is 0.83, and the Cash Ratio is 0.14. Considering the valuation of this stock, the price to sales ratio is 2.39, the price to book ratio is 1.31 and price to earnings (TTM) ratio is 16.62.
