Forbes & Company Receives 'Hold' Rating from MarketsMOJO, Stock Shows Bullish Trend

Forbes & Company, a microcap company in the engineering industry, has recently received a 'Hold' rating from MarketsMOJO on September 30, 2024. This upgrade comes as the stock has shown a bullish trend and has outperformed the BSE 500 index in the last 3 years, 1 year, and 3 months.
The technical trend for the stock has improved from mildly bullish to bullish on September 30, 2024, with multiple factors such as MACD, Bollinger Band, and KST indicating a positive outlook. However, the company's ability to service debt is a concern as it has a high debt to EBITDA ratio of 5.61 times.

In terms of long-term growth, Forbes & Company has not performed well with a negative annual growth rate of -41.10% in net sales and -23.16% in operating profit over the last 5 years. The company also reported negative results in June 2024, with a fall in net sales, PBT less OI, and PAT.

The stock is currently trading at a discount compared to its historical valuations, with a price to book value of 6.4 and a PEG ratio of 1.1. However, it has a high ROE of 16, indicating an expensive valuation.

Another concern for investors is that 98.25% of promoter shares are pledged, which can put additional downward pressure on the stock prices in falling markets. Overall, while the stock has shown a strong performance in the past year, its financials and valuation raise some concerns for potential investors.