ZTO Express (Cayman) Inc., CNH Industrial N.V., Acuity Brands, Inc., among others, are the industrials stocks approaching important price targets.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Dow Jones ended the session at 34,100 after a 0.8% gain. S&P 500 gained 0.83% and closed at 4,169.48.
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.
Buyers pushing ZTO Express towards its price target of $28; currently at $27.68
ZTO Express (Cayman) Inc.'s run now faces a challenge at $28, which is only 31 cents away and will be interesting to follow.
ZTO Express is in the midst of a 7 day downtrend. Friday may indicate a change of direction; the Chinese express delivery company rallied 1.06% and maintained $27.68. Trading volume totalled 1.80 million which equates to around 89% of the stock's 21-day average Friday.
CNH Industrial's Price target: $14.24 | Last close: $14.1 | Daily range: $13.76 – $14.13 | Off hours: $14.1
The Italian equipment manufacturer went up to $14.1, gaining 0.93%. Friday's gains added to CNH Industrial's bullish trend that has lasted for 4 days so far, during which it increased a total of 23 cents. The day's trading volume totalled 3.55 million shares — slightly below the 21-day average of 4.86 million.
Over the past 2 months, the Italian equipment manufacturer has retreated 21.96% from a noteworthy peak of $17.9. Currently, the Italian equipment manufacturer has a market capitalization of $18.87 billion with an average daily volume of 4.86 million shares. So far this year, it has been doing worse than the Nasdaq by 27.73%.
CNH Industrial's run now faces a challenge at $14.24, which is only 14 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
The company trades at $14.1 ahead of quarterly performance report which is scheduled to be released tomorrow.
Acuity Brands's Price target: $158.69 | Last close: $157.38 | Daily range: $156 – $158.23 | Off hours: $157.38
Pronounced bullish sentiment in the market helped the lighting and building management firm to make a notable 1.57% gain Friday, rising $2.44 and ultimately closing at $157.38. Friday's gains added to Acuity Brands's 3 days uptrend, during which it increased a total of $1.65. Trading volume totalled 250,372 which equates to around 56% of the stock's 21-day average Friday.
A month ago the lighting company reached a significant high of $200.08 but has consequently lost 22.56% since then. The lighting and building management firm's market cap currently stands at $5 billion with an average daily trading volume of 450,034 shares. Acuity Brands last reported revenue of $943.6 million with an EPS of $2.79.
Acuity Brands's recent run now faces a major challenge as concentrated supply is likely found at $158.69 with price action currently $1.31 away.
Acuity Brands disclosed a quarterly dividend of 13 cents per share on Thursday, March 30th that was paid on Monday, May 1st to all shareholders of record up until Monday, April 17th. Based on current prices, the company's decision thereby provides Acuity Brands investors with an annual dividend yield of 0.33%.