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May 19, 2023
Change of direction? Autozone Inc, Graphic Packaging Holding Company, Hilton Worldwide Holdings Inc, among others, are approaching price targets.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones shed 0.33% and closed at 33,427. Nasdaq closed at 12,658, a 0.24% 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 consumer_cyclical stocks and their price targets.
Autozone is trading at $2,653.18, its target level is $2,626.45
A convincing break of this target could pave the way for deeper losses.
Autozone has been losing ground for 7 days, shedding a total of 2.94% of its value. with a marginal improvement upon today's session, after dropping down to $2,629.76, the auto parts distributor recovers some losses and is currently trading at $2,653.18.
Autozone is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 30.84 and the consensus revenue estimate is $4.12 billion.
Buyers pushing Graphic Packaging towards its price target of $25.97; currently at $25.76
Graphic Packaging recovered from the previous trading session's losses and went up to $25.76 today after it traded lower at $25.54. Graphic Packaging has increased a total of $1.72 over the past 17 days, with today's session contributing to the uptrend. The day's trading volume totalled 1.48 million shares — below the 21-day average of 2.99 million.
7 days ago the paper-based packaging solutions provider reached a significant high of $25.95 but has consequently lost 1.23% since then. Graphic Packaging's market cap is currently $7.91 billion with an average daily volume of 2.99 million shares. $2.44 billion was Graphic Packaging's last reported revenue with 77 cents being the current EPS.
Graphic Packaging's recent run now faces a major challenge as concentrated supply is likely found at $25.97 with price action currently 21 cents away.
Hilton | Price Target: $143.97 approx 21 cents away; Current Price: $144.18 Session Low: $143.49 Session High: $146.18 | Off Hours: $144.18
After ending yesterday at $146.25, Hilton Worldwide Holdings dropped to $143.49 early in today's session and closed at $144.18. In total, it lost 1.42%. Today's fall came on the back of a 5 day uptrend, during which Hilton added 1.84% to its share price trading volume totalled 1.22 million which equates to around 72% of the stock's 21-day average today.
This year has been a bright one for the global hotels chain after trading as low as $109.75 and going on to appreciate by 16.97% year to date. The global hotels chain's market cap currently stands at $38.15 billion with an average daily trading volume of 1.69 million shares. The S&P has been doing worse in 2022, it has been passing it by 8.06%. Hilton Worldwide Holdings's last revenue report was $2.29 billion with an EPS of $1.24.
Bearish run for Hilton is facing a possible turning point at $143.97, which is only 21 cents away. If this support line fails to hold, the next target will be at $141.69.
