Pay attention to the following industrials stocks approaching critical price targets: TopBuild Corp., IDEX Corp, General Electric are the ones to watch.
Here's an update with information from the last trading session: Markets closed higher yesterday; Nasdaq ended the session at 11,467 after a 0.63% gain. S&P 500 closed the day at 3,982.24, having gained 0.31%.
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.
Buyers pushing TopBuild towards its price target of $210.48; currently at $208.94
TopBuild Corp.'s run now faces a challenge at $210.48, which is only $1.54 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
TopBuild has posted further gains as part of a 5 day trend that has already seen the stock gain $14.92. yesterday's session pointed in the same direction — after dipping down to $206.57, TopBuild regained earlier losses and ended up at $208.94. The day's trading volume totalled 202,736 shares — slightly under the 21-day average of 230,808.
TopBuild released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 4.4 per share on revenue of $1.26 billion, topping estimates of 4.02 per share on revenue of $1.24 billion. Since the release of its earnings report, TopBuild gained 5.53%.
IDEX's price target: $224.19 | Last close: $225.22 | Daily range: $224.84 – $227.61 | Off hours: $225.22
After ending Friday at $224.84, IDEX spiked to $227.61 yesterday, dropped back to starting point range, and rallied again to $225.22. While flat so far today, IDEX is on a 6 day bearish trend during which it lost $6.16 of its value. Yesterday's trading volume was 180,093 shares which is lower than the 21-day average of 465,792.
The fluidic systems manufacturer reached a significant high of $242.05 around 2 months ago but has lost 7.11% since then. The company has a market cap of $17 billion with an average daily volume of 465,792 shares. So far this year, it has been under-performing the S&P 500 by 5.54%. $810.7 million was IDEX's last reported revenue with $2 being the current EPS.
$224.19 is only $1.03 away for IDEX and might put a stop to its current downtrend.
Buyers pushing GE towards its price target of $84.64; currently at $83.84
The industrial giant rallied 0.35% and maintained $83.84. Yesterday's gains added to GE's bullish trend that has lasted for 5 days so far, during which it increased a total of $1.29. Daily trading volume (6.29 million shares) was slightly greater than the current multiday average of 5.55 million.
GE hit a significant low of $61.09 around 7 months ago, but has since recovered 36.77%. Currently, the US conglomerate has a market capitalization of $91.33 billion with an average daily trading volume of 5.55 million shares. So far this year, it has been doing worse than the S&P 500 by 5.03%. GE has a forecast of $21.59 billion with an EPS of $1.11.
GE's recent run now faces a major challenge as concentrated supply is likely found at $84.64 with price action currently 80 cents away.
GE disclosed a quarterly dividend of 8 cents per share on Wednesday, November 30th that was paid on Wednesday, January 25th to all shareholders of record up until Thursday, December 15th. Based on current prices, the company's decision thereby provides GE investors with an annual dividend yield of 0.382%.