by Sam Collins | November 13, 2012 1:44 am
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.
Source URL: http://investorplace.com/2012/11/trade-of-the-day-standex-international-corp-nyse-sxi-3/
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