The stock of Cervus Equipment Corp (TSE:CVL) gapped up by $0.06 today and has $32.98 target or 139.00% above today’s $13.80 share price. The 5 months technical chart setup indicates low risk for the $232.19 million company. The gap was reported on Nov, 9 by Barchart.com. If the $32.98 price target is reached, the company will be worth $322.74M 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 12,931 shares traded hands or 14.14% up from the average. Cervus Equipment Corp (TSE:CVL) has risen 17.27% since April 5, 2016 and is uptrending. It has outperformed by 12.49% the S&P500.
Cervus Equipment Corp (TSE:CVL) Ratings Coverage
Out of 3 analysts covering Cervus Equipment (TSE:CVL), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $19 is the highest target while $12 is the lowest. The $13.98 average target is 1.30% above today’s ($13.8) stock price. Cervus Equipment has been the topic of 16 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The stock has “Sector Outperformer” rating given by IBC on Tuesday, October 13. The company was maintained on Monday, August 24 by TD Securities. Scotia Capital maintained Cervus Equipment Corp (TSE:CVL) rating on Friday, August 14. Scotia Capital has “Sector Perform” rating and $16 price target.
Another recent and important Cervus Equipment Corp (TSE:CVL) news was published by Reuters.com which published an article titled: “BRIEF-Cervus Equipment Corp announces third quarter 2016 results” on November 08, 2016.
Cervus Equipment Corporation is engaged in the sale, after-sale service and maintenance of agricultural, transportation, construction and industrial equipment. The company has a market cap of $232.19 million. The Firm acquires and operates authorized agricultural, construction, material handling and transportation equipment dealerships. It has a 18.74 P/E ratio. It operates through three divisions: Agriculture, Commercial and Industrial, and Transportation.
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