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May 16, 2023
Price action reveals A. O. Smith Corp, JetBlue Airways Corporation, Roper Technologies Inc as the stocks to watch as they near pivotal price targets in the near term.
A recap of yesterday's session: Leading equity indices in the US rose as Nasdaq ended the session at 12,365 after a 0.66% gain. S&P 500 closed the day at 4,136.28, having gained 0.3%.
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.
Buyers pushing A. O. Smith towards its price target of $68.61; currently at $68.2
After finishing Friday at $67.24, the boiler maker went up by 1.43% yesterday and remained at the $68.2 level. Yesterday's gains are in contrast to A. O. Smith's bearish trend (lasting 7 days) during which it lost $3.14 of its value. Trading volume totalled 811,318 which equates to around 66% of the stock's 21-day average yesterday.
A. O. Smith hit a significant low of $48.58 around 7 months ago, but has since recovered 38.41%. A. O. Smith has a market cap of $10.56 billion with an average daily volume of 1.23 million shares. So far this year, it has been outperforming the S&P 500 by 8.44%. A. O. Smith has a forecast of $922.26 million with an EPS of 78 cents.
It will be interesting to follow how A. O. Smith's run now faces a challenge at $68.61, which is only 41 cents away.
Just recently, A. O. Smith's board disclosed a quarterly dividend of 30 cents per share and subsequently paid on Monday, May 15th for all shareholders of record up until Friday, April 28th. The company's decision thereby provides A. O. Smith investors with an annualised dividend yield of 1.76% (based on current prices).
Buyers pushing JetBlue Airways towards its price target of $7; currently at $6.93
America's 7th largest airline closed Friday at $6.74. yesterday, it gained 2.82% and remained around $6.93. Yesterday's trading volume was 8.28 million shares which is slightly below the 21-day average of 9.66 million.
America's 7th largest airline is now trading 21.45% below its 3-month high of $10.84. JetBlue Airways's market cap currently stands at $2.27 billion with an average daily trading volume of 9.66 million shares. $2.33 billion was JetBlue Airways's last reported revenue with -58.608 cents being the current EPS.
JetBlue's run now faces a challenge at $7, which is only 8 cents away and will be interesting to follow.
Roper (ROP) Price target: $459.65 | Last price: $461.88 | Daily range: $459.55 – $463.9
A mostly flat day so far for the engineered products developer, range-bound between $459.55 and $463.9 and currently at $461.88. Roper Technologies has been pretty quiet for the last 8 days, trading mostly flat and moving by only $1.03 on average. The day's trading volume totalled 320,330 shares — slightly below the 21-day average of 453,397.
Having set a significant low of $359.64 7 months ago, the diversified industrial company is trading 28.38% higher. Roper is currently trading with a market cap of $49.23 billion with an average daily trading volume of 453,397 shares. So far this year, it has been doing worse than the S&P 500 by 1.26%. Roper Technologies expected revenue of $1.44 billion with an EPS of $3.85.
Roper Technologies bears struggled to gain ground beyond the support zone around $459.65 with prices climbing $2.23 as bulls regained control.
Roper Technologies disclosed a quarterly dividend of $2.73 per share on Thursday, March 16th that was paid on Friday, April 21st to all shareholders of record up until Thursday, April 6th. Based on current prices, the company's decision thereby provides Roper Technologies investors with an annual dividend yield of 2.36%.
