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April 24, 2023
Pay attention to the following industrials stocks approaching critical price targets: Masco Corp, Verisk Analytics Inc, CNH Industrial N.V. are the ones to watch.
A recap of Friday's session: Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
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.
Masco's price target: $50.26 | Last close: $50.79 | Daily range: $50.48 – $51.76 | Off hours: $50.79
Masco Corp is eyeing the $50.26 support line.
Though in the midst of an 11 day uptrend, gaining a total of 7.97%, ($3.96), the prevailing bullish trend is beginning to fade following Friday's downbeat session. The leading US home improvement company has recovered almost all of its session losses after dipping down to $50.48 Friday. The day's trading volume totalled 1.45 million shares — slightly below the 21-day average of 1.91 million.
Masco is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.63 and the consensus revenue estimate is $1.91 billion.
Verisk Analytics's Price target: $197.94 | Last close: $196.79 | Daily range: $194.86 – $197.54 | Off hours: $196.79
Pronounced bullish sentiment in the market helped the data analytics and risk assessment firm to make a notable 1.15% gain Friday, rising $2.23 and ultimately closing at $196.79. Verisk Analytics has increased a total of $2.7 over the past 6 days, with Friday's session contributing to the uptrend. The volume of trade was 851,193 shares, close to the daily average of 853,949 shares.
This year has been a bright one for the risk assessment firm after trading as low as $158.23 and going on to appreciate by 11.11% year to date. Currently, the data analytics and risk assessment firm has a market capitalization of $30.44 billion with an average daily volume of 853,949 shares. So far this year, it has been doing worse than the Nasdaq by 2.87%.
Verisk Analytics's run now faces a challenge at $197.94, which is only $1.15 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Verisk Analytics is scheduled to announce earnings results Monday. The consensus EPS estimate is 1.19 and the consensus revenue estimate is $633.33 million.
CNH Industrial's price target: $14.24 | Last close: $14.34 | Daily range: $14.26 – $14.47 | Off hours: $14.35
After ending Thursday at $14.6, CNH Industrial declined to $14.26 Friday before closing at $14.34, thereby losing 1.78% in total. CNH Industrial has dropped 17 cents over the past 4 days; Friday's session continued this downtrend. Friday's trading volume was 2.76 million shares which is under the 21-day average of 4.93 million.
The Italian equipment manufacturer has fallen back around 18.44% from the significant high of $17.9 set 2 months ago. The Italian equipment manufacturer's market cap currently stands at $19.20 billion with an average daily trading volume of 4.93 million shares. So far this year, it has been under-performing the Nasdaq by 24.79%. $6.94 billion was CNH Industrial's last reported revenue with 36 cents being the current EPS.
A convincing break of this target could pave the way for deeper losses.
