BofA Securities has recently reduced Comerica Inc (CMA) stock to Underperform rating, as announced on October 7, 2024, according to Finviz. Earlier, on September 24, 2024, Wedbush had raised the stock from a Neutral to Outperform, setting a price target of $75 for CMA stock. Keefe Bruyette also raised Outperform rating with a price target of $69. Additionally, Truist reduced Hold rating on July 22, 2024, with a target price of $53. Raymond James analysts, in their report published on July 2, 2024, also raised Outperform rating and set a price target of $60 for Comerica Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Comerica Inc (CMA) Stock Trading Recap
On Friday, Comerica Inc (CMA) stock saw a modest uptick, ending the day at $64.94 which represents a slight increase of $2.30 or 3.67% from the prior close of $62.64. The stock opened at $64.2 and touched a low of $64.02 during the day, reaching a high of $66.06. The volume of shares traded was 3.95 million exceeding the average volume of 2.00 million.
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CMA Stock Performance and Moving Averages
In recent trading, Comerica Inc (CMA) stock price has shown some volatility, fluctuating 5.97% over the last five trades and 6.25% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 25.95%, and it has gained 27.06% in the previous three months. Currently, CMA is trading at 8.11%, 12.24%, and 21.80% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CMA, a Financial sector stock, is trading 2.64% below its 52-week high but remains 73.64% above its 52-week low. The Average True Range (ATR) (14 days) of 1.6 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Comerica Inc’s Profitability and Valuation Ratios
Comerica Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 16.39% and a profit margin of 11.75%, with a gross margin of 25.95%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Comerica Inc’s market capitalization stands at $8.62 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 14.36, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 12.07. Additionally, the Price-to-Sales Ratio is 1.68, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.49, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.91% of Comerica Inc (CMA)’s shares, while financial institutions hold 81.77%.
Notable insider trades include Moore Christine M, EVP and General Auditor at Comerica Inc (CMA), who sold 2545 shares on Aug 23 ’24, at $57.51 each, totaling $0.15 million. On Apr 24 ’24, McKinney Cassandra M., EVP, sold 7271 shares for $52.59 each, amounting to $0.38 million. Additionally, on Feb 12 ’24, Bridges Wendy sold 3034 shares at $52.74 each, generating $0.16 million.
