Icarus Signal New Entries For Today

This story features IRESS LIMITED, and other companies. For more info SHARE ANALYSIS: IRE

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Financial data and platform provider Iress ((IRE)) is one of those stocks that never seems to have a shortage of fans, supporters, admirers and… buyers. No wonder thus, Iress shares are among the few that constantly trade in the vicinity of consensus price target. Sometimes the shares are a little bit above target, sometimes they pull back beneath target. On Friday, Iress re-joined the stocks that are trading above target. With the Australian share market opening the week on a subdued note on Monday, the shares have now pulled back and will fall out of the group at the next update.

Iress is the only newcomer amongst stocks trading above target on Friday's data (see chart).

As far as stocks approaching their target goes, Friday's price action saw six newcomers; ARB Corp ((ARP)), Australian Pipeline Trust ((APA)), Catalpa ((CAH)), Challenger Diversified Property ((CDI)), Leighton Holdings ((LEI)) and Brambles ((BXB)). Investors should note some of these, such as APA, come from another group; those stocks trading above target. (Hence, share price weakness is the culprit).

The group of stocks trading well below targets includes four newcomers; BlueScope Steel ((BSL)), which probably won't surprise anyone, alongside Gindalbie ((GBG)), Carnarvon Petroleum ((CVN)) and Northern Iron ((NFE)).

The entrance of Carnarvon Petroleum certainly stands out as it is the direct result of Macquarie initiating coverage with a target price more than 100% above what the shares are trading at. Carnarvon has been a member of the ASX200 for a while now, but that hasn't inspired too many stockbrokers into adding the stock to the research portfolio. Probably coincidence that Macquarie is also the only one covering Northern Iron in our research universe.

Investors should note Catalpa is in take-over mode (as a target). Challenger Diversified has been a steady climber these past weeks, currently offering 7.3% in dividend yield. ARB Corp seems to have run too hard and has now pulled back within target.

Investors should consider the information and data are provided for research purposes only.

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ARP $ 8.11 $ 8.11 0.04% 2 APA $ 4.23 $ 4.25 0.47% 3 CAH $ 1.73 $ 1.75 1.16% 4 CDI $ 0.55 $ 0.56 2.36% 5 LEI $ 24.27 $ 24.88 2.51% 6 BXB $ 7.37 $ 7.57 2.69%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 IRE $ 9.40 $ 9.37 – 0.29%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 CVN $ 0.24 $ 0.50 108.33% 2 NFE $ 1.68 $ 2.75 63.69% 3 BSL $ 1.45 $ 2.09 44.71% 4 GBG $ 0.98 $ 1.42 44.49%

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