Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Enovis Corporation (NYSE: ENOV) weakened in recent days. ENOV’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
Enovis Corporation (NYSE: ENOV) stock declined slightly by -0.5% on 7/29/24. The stock closed at $47.87. Moreover, trading volume in this decline was above average at 124% of normal. The stock has been weak relative to the market over the last nine months but has risen 2.5% during the last week.
Current PriceTarget Research Rating
ENOV is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Enovis has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Enovis has a neutral Appreciation Score of 58 but a poor Power Rating of 26, producing the Negative Value Trend Rating.
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