Could Heroux-Devtek Inc. Change Direction After Reaching 52-Week High?

 Could Heroux Devtek Inc. Change Direction After Reaching 52 Week High?

The stock of Heroux-Devtek Inc. (TSE:HRX) hit a new 52-week high and has $17.08 target or 9.00% above today’s $15.67 share price. The 6 months bullish chart indicates low risk for the $567.91 million company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $17.08 price target is reached, the company will be worth $51.11 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 33,747 shares traded hands or 133.75% up from the average. Heroux-Devtek Inc. (TSE:HRX) has risen 6.00% since April 21, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

Heroux-Devtek Inc. (TSE:HRX) Ratings Coverage

Out of 4 analysts covering Heroux-Devtek Inc (TSE:HRX), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $16.50 is the highest target while $13.50 is the lowest. The $15.69 average target is 0.13% above today’s ($15.67) stock price. Heroux-Devtek Inc has been the topic of 7 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Friday, October 7, the company rating was upgraded by Raymond James.

Another recent and important Heroux-Devtek Inc. (TSE:HRX) news was published by Theglobeandmail.com which published an article titled: “The Globe and Mail” on May 31, 2009.

Heroux-Devtek Inc. specializes in the design, development, manufacture and repair, and overhaul of landing gear and actuation systems and components for the aerospace market. The company has a market cap of $567.91 million. The Firm also makes electronic enclosures, heat exchangers and cabinets for airborne radar, electro-optic systems and aircraft controls through its Magtron operations, as well as fluid filters products through its Bolton operations. It has a 18.43 P/E ratio. In the commercial sector, it operates in commercial and business jet, regional aircraft and helicopter markets.

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