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May 30, 2023
Pay attention to the following industrials stocks approaching critical price targets: HEICO Corporation, Republic Services, Inc., CH Robinson Worldwide Inc are the ones to watch.
A quick recap of where the last trading session ended: Markets closed higher Friday, as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 gained 1.3% and closed at 4,205.45.
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.
HEICO (HEI-A) Price target: $124.88 | Last price: $126.16 | Daily range: $125.88 – $129.45
A persuasive break of this target could lead to higher losses.
HEICO has lost 11.44% over the last 5 days. Friday's session continued down the same path: despite the risk-off mood, HEICO was range-bound between $125.88 to $129.45 and settled at $126.16. Daily trading volume (273,135 shares) increased, making up 108% of the 21-day average (253,766).
Republic Services is trading at $141.08, its target level is $140.45
Republic Services's downtrend might be halted by its support level at $140.45, which is only 63 cents away.
Over the last 11 days, Republic Services has fallen 4.8%. more of the same from Friday's session: early in Friday's session, Republic Services dropped to $140.83 from $141.71 at the end of Thursday, before closing at $141.08. During the session, it lost 0.44%. Trading volume totalled 1 million which equates to around 94% of the stock's 21-day average Friday.
C.H. Robinson active price target: $96.88; currently at $97.54
After ending Thursday at $99.42, C.H. Robinson declined to $97.34 Friday before closing at $97.54, thereby losing 1.89% in total. Friday's 1.89% loss extends a 7 day bearish run in which C.H. Robinson had already lost $2.07 from its share value. Daily trading volume (1.57 million shares) increased, making up 148% of the 21-day average (1 million).
Over the past 9 months, the multimodal transport company has retreated 16.84% from a noteworthy peak of $119.55. C.H. Robinson has a market cap of $11.36 billion with an average daily volume of 1 million shares. So far this year, it has been under-performing the S&P 500 by 0.98%. $4.61 billion was C.H. Robinson's last reported revenue with 98 cents being the current EPS.
A convincing break of this target could pave the way for deeper losses.
C.H. Robinson disclosed a quarterly dividend of 61 cents per share on Thursday, February 9th that was paid on Monday, April 3rd to all shareholders of record up until Friday, March 3rd. Based on current prices, the company's decision thereby provides C.H. Robinson investors with an annual dividend yield of 2.5%.
