Buy This Stock, But Don’t Chase It

Following positive earnings news, SXI added a new leg to its already powerful bull market

   
Buy This Stock, But Don’t Chase It

Standex International Corp. (NYSE:SXI) — This is a diversified company that manufactures a range of products and services for industrial markets. Zacks rates SXI as a top value play, and it was on our list of Top Stocks to Buy for November.

On Thursday, the company reported fiscal year 2013 Q1 earnings per share of $0.93 versus an expected $0.88, and management raised its expectations for FY 2013 to $4.27-$4.32.

Following the positive earnings news, SXI added a new leg to its already powerful bull market that began early in 2009. But chasing a stock that rose $4.55 in one day is not prudent. Buy SXI under $48 for a trading target of $55-$58. Investors willing to hold this stock for the long term could reap a much higher profit.

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chart key 300x84 Buy This Stock, But Dont Chase It


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/trade-of-the-day-standex-international-corp-nyse-sxi-2/.

©2014 InvestorPlace Media, LLC

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