Does Essentra PLC Have Any Gas After Today’s Gap Down?

 Does Essentra PLC Have Any Gas After Today's Gap Down?

The stock of Essentra PLC (LON:ESNT) gapped down by GBX 73.158 today and has GBX 365.22 target or 8.00% below today’s GBX 396.98 share price. The 5 months technical chart setup indicates high risk for the GBX 1.04B company. The gap down was reported on Nov, 21 by Barchart.com. If the GBX 365.22 price target is reached, the company will be worth GBX 83.20M 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%. The stock decreased 19.69% or GBX 97.32 on November 21, hitting GBX 396.98. About 2.79M shares traded hands or 326.92% up from the average. Essentra PLC (LON:ESNT) has declined 54.21% since April 22, 2016 and is downtrending. It has underperformed by 58.07% the S&P500.

Essentra PLC (LON:ESNT) Ratings Coverage

Out of 6 analysts covering Essentra (LON:ESNT), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. GBX 1060 is the highest target while GBX 426 is the lowest. The GBX 637.83 average target is 60.67% above today’s (GBX 396.98) stock price. Essentra has been the topic of 35 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Essentra PLC (LON:ESNT) earned “Buy” rating by Jefferies on Tuesday, December 15. JP Morgan downgraded it to “Neutral” rating and GBX 700 target price in Wednesday, July 27 report. Deutsche Bank maintained Essentra PLC (LON:ESNT) rating on Monday, June 13. Deutsche Bank has “Buy” rating and GBX 635 price target. JP Morgan maintained it with “Neutral” rating and GBX 955 target price in Monday, August 3 report. Numis Securities maintained Essentra PLC (LON:ESNT) on Monday, August 1 with “Buy” rating. The rating was maintained by JP Morgan with “Overweight” on Tuesday, May 3. Deutsche Bank maintained it with “Buy” rating and GBX 845 target price in Monday, February 22 report. The firm has “Buy” rating by Jefferies given on Tuesday, January 26. Citigroup maintained the shares of ESNT in a report on Monday, August 1 with “Buy” rating. The stock has “Hold” rating given by Deutsche Bank on Tuesday, July 19.

More recent Essentra PLC (LON:ESNT) news were published by: Marketwatch.com which released: “Essentra dives 19% after cutting guidance” on November 20, 2013. Also Fool.Co.Uk published the news titled: “Are Bellway plc, Essentra plc and Soco International plc a buy after today’s …” on June 09, 2016. Fool.Co.Uk‘s news article titled: “Why Are Essentra PLC, ITM Power plc And Antofagasta plc Falling Today?” with publication date: July 31, 2015 was also an interesting one.

Essentra plc is a United Kingdom-based maker and distributor of plastic injection molded, vinyl dip molded and metal items. The company has a market cap of 1.04 billion GBP. The Company’s divisions include Component Solutions, Health & Personal Care Packaging and Filtration Products. It has a 15.77 P/E ratio. The Component Solutions segment includes the components, pipe protection technologies , extrusion and security businesses each of which serves clients in light and heavy industry.

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