Pay attention to the following industrials stocks approaching critical price targets: Knight-Swift Transportation Holdings Inc., JetBlue Airways Corporation, Builders FirstSource, Inc. are the ones to watch.

Yesterday's session summary: Leading equity indices in the US declined as S&P 500 closed at 4,071.63, a 1.58% change. Nasdaq was down 1.98% before closing the session at 11,800.

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.

Knight-Swift Transportation's price target: $54.41 | Last close: $55 | Daily range: $54.75 – $56.27 | Off hours: $55

After ending Monday at $56.79, Knight-Swift Transportation Holdings Inc. dropped to $54.75 early in yesterday's session and closed at $55. In total, it lost 3.15%. Yesterday's fall added to a 4 day bearish run, during which Knight-Swift Transportation lost 33 cents. The day's trading volume totalled 1.85 million shares — slightly below the 21-day average of 2.26 million.

Having set a significant high of $63.21 2 months ago, the US motor carrier company is trading 10.16% lower. Knight-Swift Transportation is currently trading with a market cap of $8.86 billion with an average daily trading volume of 2.26 million shares. So far this year, it has been under-performing the Nasdaq by 10.15%.

Knight-Swift Transportation's downtrend might be halted by its support level at $54.41, which is only 59 cents away.

JetBlue's price target: $6.61 | Last close: $6.78 | Daily range: $6.74 – $7.2 | Off hours: $6.83

A convincing break of this target could pave the way for deeper losses.

Having fallen 18 cents in 5 days, more of the same from yesterday's session: despite the risk-off mood, JetBlue was range-bound between $6.74 to $7.2 and settled at $6.78. Daily trading volume (17.15 million shares) increased, making up 214% of the 21-day average (8.00 million).

Builders FirstSource (BLDR) Price target: $91.76 | Last price: $92.39 | Daily range: $92.21 – $93.93

Early in yesterday's session, Builders FirstSource dropped to $92.21 from $93.72 at the end of Monday, before closing at $92.39. During the session, it lost 1.42%. Yesterday's 1.42% loss extends a 6 day bearish run in which Builders FirstSource had already lost $3 from its share value. The day's trading volume totalled 1.43 million shares — slightly under the 21-day average of 2 million.

Having soared to a high of $96.72 approximately 8 days ago, the Fortune 500 building materials manufacturer is now trading 3.1% lower. The company has a market cap of $12.75 billion with an average daily volume of 2 million shares. So far this year, it has been beating the Nasdaq by 26.84%. Builders FirstSource has a forecast of $4.23 billion with an EPS of $2.37.

A persuasive break of this target could lead to higher losses.