JetBlue Airways Corporation, Waste Connections, Inc., Pentair PLC, among others, are the industrials stocks approaching important price targets.
A short overview of the current market situation: The leading indices are slipping — Nasdaq trades at 12,051 after losing 0.52%. S&P 500 slipping 0.38% and closing at 4,148.
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. Check out this rundown of industrials stocks and their price targets.
JetBlue active price target: $8.61; currently at $8.73
JetBlue Airways Corporation is down to $8.73, after ending yesterday at $8.81. Overall, a 0.85% loss or 7.5 cents today. Today's losses are adding to a 4 day bearish run, during which JetBlue Airways lost 41 cents of its value.
JetBlue Airways hit a significant low of $6.19 around a month ago, but has since recovered 42.33%. The company has a market cap of $2.83 billion with an average daily volume of 10.13 million shares. JetBlue is forecasted to generate revenues of $2.41 billion and EPS of 19 cents.
A persuasive break of this target could lead to higher losses.
Waste Connections (WCN) Price target: $131.81 | Last price: $133.02 | Daily range: $132.67 – $133.44
Waste Connections could begin to recover as it approaches significant support, now $1.21 away from $131.81. Dipping below could be an indication that further losses are ahead.
During a 13 day uptrend, Waste Connections gained a total of $6.02, or 4.45%. now turning against its recent performance, Waste Connections is down to $133.02, after ending yesterday at $133.37. Overall, a 0.26% loss or 35 cents today.
Waste Connections is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 0.88 and the consensus revenue estimate is $1.85 billion.
Pentair is trading at $57, its target level is $56.77
The US water purification specialist slides down from $57.61 to $57, losing 61 cents (1.08%). Today's losses are adding to a 4 day bearish run, during which Pentair lost $2.6 of its value.
The US water purification specialist has gained 27.46% since its lowest print of $39 earlier this year. The company's market cap currently stands at $9.37 billion with an average daily trading volume of 2 million shares. So far this year, it has been outperforming the S&P 500 by 19.3%. $1 billion was Pentair's last reported revenue with 82 cents being the current EPS.
Pentair's bearish trend is facing a possible turning point at $56.77, which is only 22 cents away. Will be interesting to follow.