The stock of TransForce Inc (TSE:TFI) gapped down by $0.01 today and has $28.37 target or 7.00% below today’s $30.50 share price. The 6 months technical chart setup indicates high risk for the $2.83B company. The gap down was reported on Nov, 9 by Barchart.com. If the $28.37 price target is reached, the company will be worth $198.10M 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 235,564 shares traded hands. TransForce Inc (TSE:TFI) has risen 39.61% since April 5, 2016 and is uptrending. It has outperformed by 34.83% 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. $36 is the highest target while $20.50 is the lowest. The $29.28 average target is -4.00% below today’s ($30.5) stock price. Transforce Inc. has been the topic of 24 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of TransForce Inc (TSE:TFI) has “Outperform” rating given on Monday, October 26 by National Bank Canada. As per Friday, July 24, the company rating was maintained by Scotia Capital. The firm has “Underperform” rating given on Friday, October 21 by Scotia Capital. Scotia Capital maintained the stock with “Underperform” rating in Friday, July 22 report. The firm earned “Sector Perform” rating on Monday, October 24 by RBC Capital Markets. The firm has “Best Ideas List” rating given on Friday, October 16 by RBC Capital Markets. The stock of TransForce Inc (TSE:TFI) earned “Hold” rating by TD Securities on Monday, October 24.
More 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 published the news titled: “XPO Logistics Sells Truckload Shipping Business to TransForce for $558 Million” on October 27, 2016. Seekingalpha.com‘s news article titled: “TransForce, Inc. (TFIFF) CEO Alain BÃ©dard on Q3 2016 Results – Earnings Call …” with publication date: October 21, 2016 was also an interesting one.
TransForce Inc. is engaged in transportation and logistics services across Canada and the United States. The company has a market cap of $2.83 billion. The Company’s divisions include Package and Courier, Less-Than-Truckload, Truckload, Logistics and Corporate. It has a 23.03 P/E ratio. The Package and Courier segment comprises pickup, transport and delivery of items across North America.
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