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June 06, 2023
Read up on Robert Half International Inc, Oshkosh Corporation, AGCO Corporation as they approach key price targets in the near term.
Yesterday's session summary: Leading equity indices in the US declined as Dow Jones shed 0.59% and closed at 33,563. S&P 500 closed at 4,273.79, a 0.2% change.
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.
Robert Half's price target: $68.95 | Last close: $69.61 | Daily range: $68.94 – $70.24 | Off hours: $69.61
An influx of sellers pushed the US-based HR company to session lows around $68.94 while establishing a $68.94 to $70.24 session range yesterday. Yesterday's fall came on the back of a 4 day uptrend, during which Robert Half added 7.06% to its share price trading volume totalled 799,062 which equates to around 77% of the stock's 21-day average yesterday.
Robert Half hit a significant low of $65 around 6 days ago, but has since recovered 7.47%. The global HR consulting firm's market cap currently stands at $7.50 billion with an average daily volume of 1 million shares. So far this year, it has been doing worse than the S&P by 14%. Robert Half has a forecast of $1.71 billion with an EPS of $1.13.
Bearish run for Robert Half is facing a possible turning point at $68.95, which is only 66 cents away. If this support line fails to hold, the next target will be at $68.3.
Oshkosh Corporation's price target: $79.43 | Last close: $80.93 | Daily range: $78.88 – $81.31 | Off hours: $80.93
Bearish run for Oshkosh Corporation is facing a possible turning point at $79.43, which is only $1.5 away. If this support line fails to hold, the next target will be at $77.94.
Though in the midst of an 8 day uptrend, gaining a total of 9.8%, ($8.09), the prevailing bullish trend is beginning to fade following yesterday's downbeat session. The US industrial truck company has recovered almost all of its session losses after dipping down to $78.88 yesterday. Oshkosh Corporation's recent uptrend could be petering out after the company eclipsed its average daily volume of 471,449 by 172% today.
AGCO Corporation's price target: $115.13 | Last close: $116.73 | Daily range: $115.78 – $119.64 | Off hours: $116.73
AGCO Corporation is eyeing the $115.13 support line.
After ending Friday at $119.4, AGCO Corporation declined to $115.78 yesterday before closing at $116.73, thereby losing 2.24% in total. The day's trading volume totalled 388,174 shares — below the 21-day average of 692,137.
