The stock of Stella-Jones Inc (TSE:SJ) gapped down by $1.45 today and has $42.34 target or 7.00% below today’s $45.53 share price. The 9 months technical chart setup indicates high risk for the $3.18B company. The gap down was reported on Nov, 8 by Barchart.com. If the $42.34 price target is reached, the company will be worth $222.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 147,435 shares traded hands or 51.66% up from the average. Stella-Jones Inc (TSE:SJ) has declined 0.23% since April 1, 2016 and is downtrending. It has underperformed by 2.19% the S&P500.
Stella-Jones Inc (TSE:SJ) Ratings Coverage
Out of 6 analysts covering Stella-Jones Inc (TSE:SJ), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $59 is the highest target while $45 is the lowest. The $53.34 average target is 17.15% above today’s ($45.53) stock price. Stella-Jones Inc has been the topic of 19 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 4. The rating was upgraded by Desjardins Securities on Monday, September 19 to “Buy”. Desjardins Securities maintained the shares of SJ in a report on Monday, August 10 with “Hold” rating. On Friday, August 12 the stock rating was maintained by Scotia Capital with “Sector Perform”. Acumen Capital maintained the shares of SJ in a report on Monday, August 10 with “Buy” rating. RBC Capital Markets maintained Stella-Jones Inc (TSE:SJ) rating on Wednesday, July 20. RBC Capital Markets has “Outperform” rating and $56 price target.
Another recent and important Stella-Jones Inc (TSE:SJ) news was published by Seekingalpha.com which published an article titled: “Acquisitions At Stella Jones” on April 14, 2016.
Stella-Jones Inc is a Canada-based company, which is a producer and marketer of pressure treated wood products. The company has a market cap of $3.18 billion. The Firm supplies North America’s railroad operators with railway ties and timbers, and the continent’s electrical utilities and telecommunication companies with utility poles. It has a 19.45 P/E ratio. It makes and distributes residential lumber and accessories to retailers for outdoor applications, as well as industrial products, which include marine and foundation pilings, construction timbers, wood for bridges and coal tar products.
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