The stock of Spin Master Corp (TSE:TOY) gapped up by $0.35 today and has $48.30 target or 39.00% above today’s $34.75 share price. The 8 months technical chart setup indicates low risk for the $854.09 million company. The gap was reported on Nov, 7 by Barchart.com. If the $48.30 price target is reached, the company will be worth $333.10M 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 17,492 shares traded hands. Spin Master Corp (TSE:TOY) has risen 50.38% since April 1, 2016 and is uptrending. It has outperformed by 48.42% the S&P500.
Spin Master Corp (TSE:TOY) Ratings Coverage
Out of 2 analysts covering Spin Master Corp. (TSE:TOY), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $38 is the highest target while $22 is the lowest. The $31.50 average target is -9.35% below today’s ($34.75) stock price. Spin Master Corp. has been the topic of 16 analyst reports since September 1, 2015 according to StockzIntelligence Inc. TD Securities maintained Spin Master Corp (TSE:TOY) rating on Tuesday, September 1. TD Securities has “Buy” rating and $24 price target. The stock of Spin Master Corp (TSE:TOY) has “Outperform” rating given on Friday, April 29 by RBC Capital Markets. The firm has “Outperform” rating given on Monday, November 9 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Friday, June 17 with “Outperform”. National Bank Canada initiated it with “Outperform” rating and $26 target price in Friday, October 2 report. The company was initiated on Wednesday, September 2 by RBC Capital Markets. The rating was maintained by BMO Capital Markets on Tuesday, September 1 with “Outperform”. RBC Capital Markets maintained it with “Outperform” rating and $30 target price in Thursday, July 21 report.
More notable recent Spin Master Corp (TSE:TOY) news were published by: Prnewswire.com which released: “Spin Master Corp. to Report Second Quarter 2016 Financial Results on August …” on July 11, 2016, also Marketwatch.com with their article: “Spin Master Corp.” published on October 02, 2015, Reuters.com published: “BRIEF-Spin Master buys Swimways Corp” on August 02, 2016. More interesting news about Spin Master Corp (TSE:TOY) were released by: Prnewswire.com and their article: “Spin Master Corp. Announces Appointment of Laura Clunie to Vice-President …” published on August 06, 2015 as well as Seekingalpha.com‘s news article titled: “Spin Master – An Interesting Performance” with publication date: April 18, 2016.
Spin Master Corp., formerly SML Investments Inc., is a Canada children’s entertainment company. The company has a market cap of $854.09 million. The Company, through Spin Master Ltd. and its subsidiaries, is engaged in creating, designing, manufacturing and marketing a diversified portfolio of toys, games, products and entertainment properties. It has a 49.77 P/E ratio. The Company’s divisions include North America, consisting of the United States and Canada; Europe, consisting of Spin Master’s subsidiaries in the United Kingdom, France, Italy, the Netherlands, Germany, Austria and Switzerland, and the Rest of World, consisting of Spin Master’s subsidiary in Mexico and all other areas of the world serviced by Spin Master’s third-party distribution network.
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