Price Action To Observe: Emcor Group Inc’s Stock Is Buy After Achieving All-Time High

Price Action To Observe: Emcor Group Inc's Stock Is Buy After Achieving All Time High

The stock of Emcor Group Inc (NYSE:EME) reached all time high today, Nov, 24 and still has $77.28 target or 8.00% above today’s $71.56 share price. This indicates more upside for the $4.41B company. This technical setup was reported by Barchart.com. If the $77.28 PT is reached, the company will be worth $352.80M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.50% or $1.06 on November 23, hitting $71.56. Emcor Group Inc (NYSE:EME) has risen 45.71% since April 22, 2016 and is uptrending. It has outperformed by 40.30% the S&P500.

Analysts await Emcor Group Inc (NYSE:EME) to report earnings on February, 23. They expect $0.83 EPS, up 3.75% or $0.03 from last year’s $0.8 per share. EME’s profit will be $51.15M for 21.55 P/E if the $0.83 EPS becomes a reality. After $0.85 actual EPS reported by Emcor Group Inc for the previous quarter, Wall Street now forecasts -2.35% negative EPS growth.

Emcor Group Inc (NYSE:EME) Ratings Coverage

Out of 3 analysts covering EMCOR Group (NYSE:EME), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. EMCOR Group has been the topic of 6 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, July 19 by KeyBanc Capital Markets. The stock of Emcor Group Inc (NYSE:EME) earned “Neutral” rating by DA Davidson on Friday, February 26. As per Friday, October 28, the company rating was maintained by Stifel Nicolaus. Stifel Nicolaus maintained it with “Buy” rating and $57 target price in Monday, May 2 report. Stifel Nicolaus reinitiated the shares of EME in a report on Tuesday, January 5 with “Buy” rating.

According to Zacks Investment Research, “EMCOR GROUP, INC. conducts its business through subsidiaries, specializes in the design, integration, installation, start-up, testing, operation and maintenance of complex mechanical and electrical systems. In addition, certain of its subsidiaries operate and maintain mechanical and/or electrical systems for customers under contracts and provide other services to customers, at the customer’s facilities, which services are commonly referred to as facilities management.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.14, from 1.17 in 2016Q1. The ratio turned negative, as 16 funds sold all Emcor Group Inc shares owned while 91 reduced positions. 37 funds bought stakes while 88 increased positions. They now own 58.07 million shares or 7.61% less from 62.85 million shares in 2016Q1.
Moreover, Rothschild Asset Management Inc has 0.51% invested in Emcor Group Inc (NYSE:EME) for 577,595 shares. Diligent Invsts holds 0.47% or 10,000 shares in its portfolio. Clark Estates New York has invested 0.62% of its portfolio in Emcor Group Inc (NYSE:EME). Citigroup reported 35,374 shares or 0% of all its holdings. Blackrock Gp Limited has 0% invested in the company for 87,273 shares. Mesirow Finance Inv Management accumulated 1.72% or 600,691 shares. Ridgeworth Cap Management Ltd holds 0.34% of its portfolio in Emcor Group Inc (NYSE:EME) for 776,934 shares. The California-based Franklin has invested 0.03% in Emcor Group Inc (NYSE:EME). Pinebridge Invests Lp has invested 0.02% of its portfolio in Emcor Group Inc (NYSE:EME). King Luther Cap Mngmt reported 265,335 shares or 0.13% of all its holdings. Kcg last reported 0.02% of its portfolio in the stock. Blackrock last reported 0% of its portfolio in the stock. Aqr Lc holds 0.01% or 143,760 shares in its portfolio. Smithfield Trust holds 5,224 shares or 0.05% of its portfolio. Cambridge Advsrs has 6,520 shares for 0.15% of their US portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 insider purchases, and 5 insider sales for $2.01 million net activity. $360,000 worth of Emcor Group Inc (NYSE:EME) was sold by RYAN JERRY E on Thursday, November 3. 1,386 shares were sold by Mauricio Maxine Lum, worth $78,097. $905,042 worth of Emcor Group Inc (NYSE:EME) shares were sold by YONKER MICHAEL T. The insider BROWN DAVID A B sold $323,267.

More news for Emcor Group Inc (NYSE:EME) were recently published by: Businesswire.com, which released: “EMCOR Group, Inc. Reports Third Quarter Results” on October 27, 2016. Businesswire.com‘s article titled: “EMCOR Group, Inc. Presented 3rd Chairman’s Award for Good Work Practice in …” and published on May 11, 2016 is yet another important article.

EME Company Profile

EMCOR Group, Inc. (EMCOR), incorporated on March 31, 1987, is an electrical and mechanical construction, and facilities services firm in the United States. The Firm provides a number of building services and industrial services. The Company’s divisions are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services. The Company’s services are provided to a range of commercial, industrial, utility and institutional clients through approximately 70 operating subsidiaries and joint venture entities. It specializes in providing construction services relating to electrical and mechanical systems in all types of non-residential and certain residential facilities and in providing various services relating to the operation, maintenance and management of facilities, including refineries and petrochemical plants.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment