Read up on Regal Beloit Corporation, HEICO Corporation, Caterpillar as they approach key price targets in the near term.
Here's an update with information from the last trading session: Markets did not have a clear cut direction — Nasdaq closed at 12,072 after a flat day. Dow Jones closed 33,800 after a stable day.
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.
Regal Rexnord's price target: $220.39 | Last close: $222.56 | Daily range: $220.29 – $224.54 | Off hours: $222.56
After ending Friday at $222.63, the power transmission component maker recovers back to $222.56 after dipping down to $220.29 earlier today. While flat Friday, Regal Rexnord is on a 6 day bullish trend, gaining a total of $5.2 throughout. Daily trading volume (155,466 shares) was slightly greater than the current multiday average of 138,431.
6 months ago, the power transmission component maker fell to a low of $137.7 but has since recovered 61.68%. The company's market cap currently stands at $6.46 billion with an average daily trading volume of 138,431 shares. Regal Rexnord expected revenue of $359.78 million with an EPS of $1.7.
Regal Rexnord's run now faces a challenge at $220.39, which is only $2.17 away and will be interesting to follow.
Buyers pushing HEICO towards its price target of $137.22; currently at $136.73
HEICO's recent run now faces a major challenge as concentrated supply is likely found at $137.22 with price action currently 49 cents away.
HEICO has posted further gains as part of a 12 day trend that has already seen the stock gain $4.17. HEICO lived up to expectations Friday by maintaining its set course — generally flat but with a slight bullish bias, HEICO ranged between $135.5 and $136.84 before closing higher at $136.73. Friday's trading volume was 106,837 shares which is slightly below the 21-day average of 111,654.
Caterpillar's price target: $218.18 | Last close: $220.27 | Daily range: $217.5 – $221 | Off hours: $220.33
A persuasive break of this target could lead to higher losses.
Having fallen $4.17 in 5 days, Friday's session continued the recent downtrend: early in Friday's session, Caterpillar dropped to $217.5 from $221.07 at the end of Thursday, before closing at $220.27. During the session, it lost 0.36%.
Friday's trading volume was 2.28 million shares which is slightly below the 21-day average of 2.83 million.
Caterpillar is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 3.79 and the consensus revenue estimate is $15.26 billion.
