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May 31, 2023
Aramark, Burlington Stores, Inc., Gentex Corporation, among others, are the consumer_cyclical stocks approaching important price targets.
A quick recap: The leading indices are falling — Dow Jones trades at 32,864 after losing 0.54%. S&P 500 trades at 4,190.23 after losing 0.36%.
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. Take a look at these consumer_cyclical stocks and their price targets.
Aramark now at $39.33 | Forthcoming price target: 18 cents lower at $39.15
Aramark is down to $39.33, after ending yesterday at $39.4. Overall, a 0.18% loss or 7 cents today. Today's down move comes after a 5 day uptrend, during which Aramark added 2.26% to its value.
The large-scale food service company has fallen back around 13.18% over the past 4 months, from a notable high of $45.38. The company's market cap currently stands at $10.25 billion with an average daily volume of 2.90 million shares. So far this year, it has been doing worse than the Nasdaq by 25.04%. Aramark expected revenue of $4.39 billion with an EPS of 25.96 cents.
Aramark is eyeing the $39.15 support line.
Burlington Stores now at $150.2 | Forthcoming price target: 1 cents lower at $150.21
Burlington Stores is down to $150.2, after ending yesterday at $154.24. Overall, a 2.62% loss or $4.04 today. Today's losses are adding to a 4 day bearish run, during which Burlington Stores lost $12.66 of its value.
Having set a significant high of $234.15 3 months ago, the department store retailer is trading 34.13% lower. Currently, the department store retailer has a market capitalization of $9.76 billion with an average daily trading volume of 1.22 million shares. So far this year, it has been under-performing the Nasdaq by 45.39%.
A convincing break of this target could pave the way for deeper losses.
The company reported earnings of 0.84 per share Thursday, falling short of expectations of 0.93. Revenue was also lower than expected at $2.14 billion versus $2.17 billion. Burlington Stores lost 10% since the release of its earnings report.
Gentex is trading at $26.18, its target level is $26.23
A persuasive break of this target could lead to higher losses.
While on a 16 day slump, falling a total of 8.69%, more of the same today: Gentex is down to $26.18, after ending yesterday at $26.6. Overall, a 1.58% loss or 42 cents today.
