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May 04, 2023
Read up on Gentex Corporation, Ulta Beauty Inc, AptarGroup, Inc. as they approach key price targets in the near term.
Yesterday's session summary: Leading equity indices in the US declined as Dow Jones lost 0.8% and ended the session at 33,400. S&P 500 slipped 0.7% and closed at 4,090.75.
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.
Gentex (GNTX) Price target: $27.36 | Last price: $27.54 | Daily range: $27.52 – $28.04
Gentex Corporation is eyeing the $27.36 support line.
Though in the midst of a 6 day uptrend, gaining a total of 4.83%, ($1.53), the prevailing bullish trend is beginning to fade following yesterday's downbeat session. Slightly down but mostly flat: Gentex ranged between $27.52 and $28.04 before closing at $27.54. Gentex's recent uptrend could be petering out after the company eclipsed its average daily volume of 990,853 by 100% today.
Ulta Beauty (ULTA) Price target: $514.17 | Last price: $523.17 | Daily range: $512.86 – $529.55
$514.17 is only $9 away for Ulta Beauty and might put a stop to its current downtrend.
Over the last 4 days, Ulta Beauty has fallen 5.12%. more of the same from yesterday's session: the beauty store operator has recovered almost all of its session losses after dipping down to $512.86 yesterday. Daily trading volume (762,121 shares) increased, making up 138% of the 21-day average (551,983).
AptarGroup | Price Target: $119.42 approx 48 cents away; Current Price: $119.9 Session Low: $119.74 Session High: $121 | Off Hours: $119.9
Grinding lower but with no clear-cut direction, the US cosmetics enabler closed the session at $119.9 after forming a distinct $119.74 – $121 range. Yesterday's 0.17% loss extends a 3 day bearish run in which AptarGroup had already lost $1.54 from its share value. Daily trading volume (284,381 shares) increased, making up 115% of the 21-day average (247,234).
The aerosol supplier is now trading 1.27% below the significant high of $121.64 it set around 3 days ago. AptarGroup is currently trading with a market cap of $7.86 billion with an average daily trading volume of 247,234 shares. So far this year, it has been doing worse than the Nasdaq by 4.83%.
A convincing break of this target could pave the way for deeper losses.
AptarGroup disclosed a quarterly dividend of 38 cents per share on Thursday, January 19th that was paid on Thursday, February 23rd to all shareholders of record up until Thursday, February 2nd. Based on current prices, the company's decision thereby provides AptarGroup investors with an annual dividend yield of 1.27%.
