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June 01, 2023
Caterpillar, The AZEK Company Inc., Mercury Systems, Inc., among others, are the industrials stocks approaching important price targets.
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 closed at 4,179.83, a 0.61% change. Nasdaq lost 0.63% and ended the session at 12,935.
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.
Caterpillar's price target: $203.97 | Last close: $205.75 | Daily range: $205.6 – $210.78 | Off hours: $206.76
After ending Tuesday at $209.9, Caterpillar dropped to $205.6 early in yesterday's session and closed at $205.75. In total, it lost 1.98%. Continuing its an 8 day bearish run (-$4.88), Caterpillar showed losses yesterday. Daily trading volume (5.88 million shares) increased, making up 200% of the 21-day average (2.92 million).
The construction and mining equipment manufacturer has fallen back around 20.65% over the past 4 months, from a notable high of $264.54. Caterpillar's market cap is currently $106.24 billion with an average daily trading volume of 2.92 million shares. So far this year, it has been under-performing the Dow Jones by 12.94%. Caterpillar has a forecast of $15.25 billion with an EPS of $3.78.
Caterpillar is trending down and heading towards $203.97, which is only $1.78 away now. Hitting this support line might signal a change of direction.
Caterpillar disclosed a quarterly dividend of $1.2 per share on Wednesday, April 12th that was paid on Friday, May 19th to all shareholders of record up until Monday, April 24th. Based on current prices, the company's decision thereby provides Caterpillar investors with an annual dividend yield of 2.33%.
AZEK's price target: $23 | Last close: $23.25 | Daily range: $23.22 – $23.9 | Off hours: $23.25
AZEK's bearish trend is facing a possible turning point at $23, which is only 24 cents away. Will be interesting to follow.
Over the last 22 days, AZEK has fallen 15.08%. yesterday's session continued down the same path: early in yesterday's session, AZEK dropped to $23.22 from $23.74 at the end of Tuesday, before closing at $23.25. During the session, it lost 2.06%. The volume of trade was 2 million shares, close to the daily average of 2 million shares.
Mercury's price target: $40.14 | Last close: $40.59 | Daily range: $39.97 – $40.69 | Off hours: $40.59
Mercury recovered back to $40.59 after dipping down to $39.97, in a session that followed Tuesday's $40.55 close value. While flat yesterday, Mercury Systems is on a 4 day bullish trend, gaining a total of $1.06 throughout. Yesterday's trading volume was 206,781 shares which is under the 21-day average of 437,295.
The mission-critical aerospace tech developer is now trading 22.47% below its 3-month high of $64.33. The company has a market cap of $2.36 billion with an average daily volume of 437,295 shares. Mercury has a forecast of $253.59 million with an EPS of 37 cents.
Mercury is eyeing the $40.14 support line.
