Read up on Union Pacific, TopBuild Corp., CSX as they approach key price targets in the near term.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones slipped 1.26% and closed at 33,700. S&P 500 shed 1.38% and closed at 4,090.41.
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.
Union Pacific's price target: $198.97 | Last close: $200.52 | Daily range: $199.45 – $203.04 | Off hours: $200
A persuasive break of this target could lead to higher losses.
Union Pacific's bearish run has lasted 4 days so far (-$2.94). yesterday's session continued down the same path: early in yesterday's session, Union Pacific dropped to $199.45 from $203.11 at the end of Wednesday, before closing at $200.52. During the session, it lost 1.28%.
Daily trading volume (3.32 million shares) was slightly greater than the current multiday average of 3 million.
TopBuild active price target: $192.38; currently at $200.67
TopBuild could begin to recover as it approaches significant support, now $8.29 away from $192.38. Dipping below could be an indication that further losses are ahead.
Though in the midst of a 5 day uptrend, gaining a total of 3%, ($7.74), the prevailing bullish trend is beginning to fade following yesterday's downbeat session. An influx of sellers pushed the residential insulation specialist to end the session lower around $200.67, while establishing a $195.73 to $203.23 session range yesterday. TopBuild's recent uptrend could be petering out after the company eclipsed its average daily volume of 206,822 by 133% today.
TopBuild is scheduled to announce earnings results Thursday. The consensus Earnings Per Share estimate is 4.02 and the consensus revenue estimate is $1.24 billion.
CSX's price target: $30.93 | Last close: $31.11 | Daily range: $31.08 – $31.61 | Off hours: $30.89
CSX could begin to recover as it approaches significant support, now 18 cents away from $30.93. Dipping below could be an indication that further losses are ahead.
After ending Wednesday at $31.67, CSX dropped to $31.08 early in yesterday's session and closed at $31.11. In total, it lost 1.77%. Daily trading volume (14.41 million shares) increased, making up 106% of the 21-day average (13.58 million).