Your Second Chance to Buy This Top Stock is Here

After running up following earnings, SXI pulled back to our buy point

   
Your Second Chance to Buy This Top Stock is Here

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

“The company exceeded analysts’ forecasts reporting fiscal Q4 (ended in August) earnings of $1.02 versus an estimated $0.91. FY 2012 earnings were $3.39 versus $2.97 in 2011. FY 2013 earnings are estimated at $4.12 per share and are scheduled to be announced on Nov. 1 before the open.”

On Nov. 1, FY 2013 Q1 results were reported at $0.93 versus an estimate of $0.88, and management raised its expectations for FY 2013 to $4.27 to $4.32. The stock immediately added a new leg to its already powerful bull market that began early in 2009 by jumping $4.53 to $52.14.

Chasing a stock that made such a large one-day move would not be prudent, so on Nov. 2, investors were advised: “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.”

On Monday, SXI closed at $47.53, which is below our buy point. It should be bought at the market.

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Article printed from InvestorPlace Media, http://investorplace.com/2012/11/trade-of-the-day-standex-international-corp-nyse-sxi-3/.

©2014 InvestorPlace Media, LLC

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