Time to Buy TransForce Inc After Today’s Gap Up?

 Time to Buy TransForce Inc After Today's Gap Up?

The stock of TransForce Inc (TSE:TFI) gapped up by $0.08 today and has $45.04 target or 49.00% above today’s $30.23 share price. The 5 months technical chart setup indicates low risk for the $3.01B company. The gap was reported on Oct, 31 by Barchart.com. If the $45.04 price target is reached, the company will be worth $1.47 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 294,645 shares traded hands or 73.35% up from the average. TransForce Inc (TSE:TFI) has risen 36.41% since March 24, 2016 and is uptrending. It has outperformed by 32.93% the S&P500.

TransForce Inc (TSE:TFI) Ratings Coverage

Out of 8 analysts covering Transforce Inc. (TSE:TFI), 5 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 63% are positive. Transforce Inc. has been the topic of 24 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by RBC Capital Markets to “Best Ideas List” on Friday, October 16. Scotia Capital maintained it with “Underperform” rating and $22 target price in Friday, October 21 report. The stock of TransForce Inc (TSE:TFI) earned “Hold” rating by TD Securities on Monday, October 24. Scotia Capital maintained it with “Sector Perform” rating and $29.50 target price in Friday, July 24 report. The firm has “Sector Perform” rating given on Monday, October 24 by RBC Capital Markets. The firm has “Outperform” rating given on Monday, October 26 by National Bank Canada. On Friday, July 22 the stock rating was maintained by Scotia Capital with “Underperform”.

More notable recent TransForce Inc (TSE:TFI) news were published by: Business.Financialpost.com which released: “TransForce Inc upgraded on XPO Logistics deal” on October 31, 2016, also Wsj.com with their article: “XPO Logistics Sells Truckload Shipping Business to TransForce for $558 Million” published on October 27, 2016, Seekingalpha.com published: “TransForce, Inc. (TFIFF) CEO Alain Bédard on Q3 2016 Results – Earnings Call …” on October 21, 2016. More interesting news about TransForce Inc (TSE:TFI) were released by: Fool.ca and their article: “TransForce Inc. Stock Is Down 30% in 12 Months: That’s an Overreaction” published on February 04, 2016 as well as Prnewswire.com‘s news article titled: “Palladium Equity Partners Acquires TransForce, Inc., a Provider of Specialized …” with publication date: July 06, 2015.

TransForce Inc. is engaged in transportation and logistics services across Canada and the United States. The company has a market cap of $3.01 billion. The Company’s divisions include Package and Courier, Less-Than-Truckload, Truckload, Logistics and Corporate. It has a 22.82 P/E ratio. The Package and Courier segment comprises pickup, transport and delivery of items across North America.

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