Pay attention to the following industrials stocks approaching critical price targets: A. O. Smith Corp, Trane Technologies PLC, Stericycle, Inc. are the ones to watch.
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 closed at 3,852.36, a 1.11% change. Dow Jones shed 0.85% and closed at 32,920.
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 industrials stocks and their price targets.
A. O. Smith's price target: $55.5 | Last close: $56.05 | Daily range: $55.48 – $56.55 | Off hours: $56.05
A persuasive break of this target could lead to higher losses.
Having fallen $2.57 in 4 days, more of the same from Friday's session: early in Friday's session, A. O. Smith dropped to $55.48 from $56.8 at the end of Thursday, before closing at $56.05. During the session, it lost 1.32%.
Daily trading volume (1.78 million shares) increased, making up 158% of the 21-day average (1.12 million).
Trane Technologies's price target: $169 | Last close: $170.36 | Daily range: $168.64 – $171 | Off hours: $170.36
Bearish run for Trane Technologies is facing a possible turning point at $169, which is only $1.36 away. If this support line fails to hold, the next target will be at $167.65.
Trane Technologies's bearish run has lasted 7 days so far (-$6.3). Friday's session continued down the same path: an influx of sellers pushed the manufacturing company to end the session lower around $170.36, while establishing a $168.64 to $171 session range Friday. Daily trading volume (1.47 million shares) increased, making up 121% of the 21-day average (1.21 million).
Stericycle's price target: $48.73 | Last close: $50.03 | Daily range: $49.3 – $50.53 | Off hours: $50.03
Stericycle's downtrend might be halted by its support level at $48.73, which is only $1.3 away.
Having fallen $1.34 in 4 days, Friday's session continued the recent downtrend: pronounced bearish sentiment in the market pushed the medical waste company into a notable 1.22% slide Friday, falling 62 cents and ultimately closing at $50.03. Daily trading volume (1 million shares) increased, making up 261% of the 21-day average (391,103).