Buy This Stock, But Don’t Chase It

by Sam Collins | November 2, 2012 1:06 am

Buy This Stock, But Don’t Chase It

Standex International Corp. (NYSE:SXI[1]) — 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[2].

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.

11 02 12 sxi 300x217 Buy This Stock, But Dont Chase It
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chart key 300x84 Buy This Stock, But Dont Chase It

Endnotes:
  1. SXI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SXI
  2. Top Stocks to Buy for November: http://investorplace.com/2012/10/top-stocks-to-buy-agnc-dwch-mall-ppl-ryl-sxi/

Source URL: http://investorplace.com/2012/11/trade-of-the-day-standex-international-corp-nyse-sxi-2/
Short URL: http://invstplc.com/1frrbv7