The stock of AirBoss of America Corp (TSE:BOS) gapped up by $0.08 today and has $18.73 target or 52.00% above today’s $12.32 share price. The 6 months technical chart setup indicates low risk for the $292.33 million company. The gap was reported on Nov, 9 by Barchart.com. If the $18.73 price target is reached, the company will be worth $152.01M 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 31,698 shares traded hands or 124.49% up from the average. AirBoss of America Corp (TSE:BOS) has declined 20.24% since April 5, 2016 and is downtrending. It has underperformed by 25.02% the S&P500.
AirBoss of America Corp (TSE:BOS) Ratings Coverage
Out of 2 analysts covering Airboss Of America Corp. (TSE:BOS), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $27.50 is the highest target while $20 is the lowest. The $22.50 average target is 82.63% above today’s ($12.32) stock price. Airboss Of America Corp. has been the topic of 5 analyst reports since August 13, 2015 according to StockzIntelligence Inc. On Thursday, August 13 the stock rating was maintained by TD Securities with “Buy”.
More important recent AirBoss of America Corp (TSE:BOS) news were published by: Marketwired.com which released: “AirBoss of America Corp. Appoints New Chief Financial Officer” on June 17, 2016, also Seekingalpha.com published article titled: “AirBoss Of America: A Good Company, But Not A Good Price (ABSSF)”, Marketwired.com published: “AirBoss of America Corp. To Acquire Flexible Products Co.” on September 30, 2013. More interesting news about AirBoss of America Corp (TSE:BOS) was released by: Marketwired.com and their article: “AirBoss of America Corp. Declares Dividend” with publication date: March 15, 2016.
AirBoss of America Corp. is engaged in the manufacture of rubber products for resource, military, automotive and industrial markets. The company has a market cap of $292.33 million. It operates in three divisions: Rubber Compounding, Engineered Products and Automotive. It has a 12.79 P/E ratio. The Company, through its AirBoss Rubber Compounding division, is engaged in custom rubber compounding, supplying mixed rubber for use in mining, transportation, industrial rubber products, military, automotive, conveyor belting, and other products, mainly in North America.
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