Change of direction? Booz Allen Hamilton Holding Corporation, General Electric, Thomson Reuters Corporation, among others, are approaching price targets.
A recap of yesterday's session: Markets completed a mixed session yesterday, as after dropping 0.68%, Dow Jones closed at 33,300. S&P 500 closed at 4,056, a 0.38% change.
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.
Booz Allen Hamilton Holding Corporation active price target: $93.19; currently at $94.09
After ending Tuesday at $96.13, Booz Allen Hamilton Holding Corporation dropped to $93.32 early in yesterday's session and closed at $94.09. In total, it lost 2.12%. Yesterday's 2.12% loss extends a 4 day bearish run in which Booz Allen Hamilton Holding Corporation had already lost $2.85 from its share value. Trading volume totalled 757,480 which equates to around 89% of the stock's 21-day average yesterday.
So far this year, the Washington-based IT company has declined 9.84% while touching highs around $111.28 earlier this year. The company has a market cap of $12.45 billion with an average daily volume of 849,798 shares. So far this year, it has been doing worse than the Nasdaq by 22.28%. Booz Allen Hamilton Holding Corporation is forecasted to generate revenues of $2.26 billion and EPS of $1.02.
A convincing break of this target could pave the way for deeper losses.
GE's price target: $95.38 | Last close: $96.21 | Daily range: $96.09 – $98.44 | Off hours: $96.65
GE's bearish trend is facing a possible turning point at $95.38, which is only 83 cents away. Will be interesting to follow.
GE's bearish run has lasted 3 days so far (-$1.71). yesterday's session continued down the same path: the industrial giant plunged into the red after losing 2.27%, declining to $96.21. Trading volume totalled 5.83 million which equates to around 92% of the stock's 21-day average yesterday.
GE's price target: $95.38 | Last close: $96.21 | Daily range: $96.09 – $98.44 | Off hours: $96.65
GE's bearish trend is facing a possible turning point at $95.38, which is only 83 cents away. Will be interesting to follow.
GE's bearish run has lasted 3 days so far (-$1.71). yesterday's session continued down the same path: the industrial giant plunged into the red after losing 2.27%, declining to $96.21. Trading volume totalled 5.83 million which equates to around 92% of the stock's 21-day average yesterday.
