Pay attention to the following industrials stocks approaching critical price targets: ZTO Express (Cayman) Inc., Builders FirstSource, Inc., Vertiv Holdings Co are the ones to watch.
What is happening with the market now? The leading indices are showing gains — Dow Jones up to 34,050, gaining 0.66%. S&P 500 up 0.69%, trading at 4,164.
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.
Buyers pushing ZTO Express towards its price target of $27.6; currently at $27.75
ZTO Express (Cayman) Inc. rallies 36.5 cents (1.33%) and maintains the $27.75 level as it reaches the end of session. In contrast to today's gains, ZTO Express has been on a 6 day bearish trend during which it lost $1.64 of its value.
ZTO Express hit a significant low of $16.8 around 6 months ago, but has since recovered 63.04%. Currently, the Chinese express delivery company has a market capitalization of $22.60 billion with an average daily volume of 2 million shares. So far this year, it has been doing worse than the Nasdaq by 15.11%. ZTO Express has a forecast of $7.28 billion with an EPS of 34 cents.
It will be interesting to follow how ZTO Express's run now faces a challenge at $27.6, which is only 16 cents away.
Buyers pushing Builders FirstSource towards its price target of $93.87; currently at $95.09
Builders FirstSource's run now faces a challenge at $93.87, which is only $1.22 away and will be interesting to follow.
After ending yesterday at $92.1, the building materials supplier went up to $95.45 only to drop back some of the way. It is now trading around $95.09 as it reaches the end of the trading session.
Builders FirstSource is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 1.51 and the consensus revenue estimate is $3.58 billion.
Buyers pushing Vertiv Holdings LLC towards its price target of $14.88; currently at $15.06
After closing yesterday at $14.49, the US electric services company spiked to $15.07 before giving back its gains and closing the session at $15.06. Vertiv Holdings LLC has gained $2.26 over the past 3 days, and today's session seems to be adding to the current uptrend.
Approximately 2 months ago, the US electric services company reached a significant high of $16.46 but has struggled to hold onto its gains and declined 11.97% since then. The company is currently trading with a market cap of $5.71 billion with an average daily trading volume of 4.12 million shares. So far this year, it has been under-performing the Nasdaq by 5.51%.
Vertiv Holdings LLC's run now faces a challenge at $14.88, which is only 18 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.