Ford Motor Co, Travel + Leisure Co., Pool Corp, among others, are the consumer discretionary stocks approaching important price targets.
Here's an update with information from the last trading session: Markets closed higher yesterday, as Nasdaq closed the day at 11,500, having gained 1.76%. S&P 500 ended the session at 4,060.43 after a 1.1% gain.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Let's review some consumer discretionary stocks and their price targets.
Ford's Price target: $13.31 | Last close: $12.92 | Daily range: $12.71 – $13.06 | Off hours: $12.92
Ford Motor Co's run now faces a challenge at $13.31, which is only 39 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Ford Motors has posted further gains as part of a 4 day trend that has already seen the stock gain 61 cents. yesterday continued on the same track for Ford — bullish sentiment helped the US automaker to hammer out a noteworthy $12.71 to $13.06 range yesterday, and finally closing at $12.92 to end the session. Trading volume totalled 46.64 million which equates to around 89% of the stock's 21-day average yesterday.
Travel + Leisure's price target: $41.23 | Last close: $41.93 | Daily range: $41.57 – $42.41 | Off hours: $41.93
A mostly flat day so far for the leisure travel company, range-bound between $41.57 and $42.41 and currently at $41.93. While flat yesterday, Travel + Leisure is on an 18 day bullish trend, gaining a total of $6.97 throughout. The day's trading volume totalled 637,911 shares — slightly under the 21-day average of 727,403.
The leisure travel company has managed to gain 17.63% so far this year despite trading at lows around $34.12 previously. The company has a market cap of $3.41 billion with an average daily volume of 727,403 shares. Travel + Leisure's last revenue report was $937 million with an EPS of $1.28.
Travel + Leisure is eyeing the $41.23 support line.
Pool Corp's price target: $357.65 | Last close: $364.41 | Daily range: $359.82 – $369.77 | Off hours: $364.41
Pool Corp's run now faces a challenge at $357.65, which is only $6.76 away and will be interesting to follow.
Stable at $364.41 and still trending upwards, yesterday's session put the brakes on the ongoing uptrend — pronounced bullish sentiment in the market helped the wholesale distributor to make a notable 0.25% gain yesterday, rising 91 cents and ultimately closing at $364.41. Yesterday's trading volume was 209,484 shares which is below the 21-day average of 392,740.