Icarus Signal New Entries For Today

This story features EQUINOX RESOURCES LIMITED, and other companies. For more info SHARE ANALYSIS: EQN

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Shares in manufacturer and designer of motor vehicle accessories, ARB Corp ((ARP)) have doubled over the past two years, but the PE multiple is now above 16 for a projected growth path of no more than 5% this year. Clearly, investors are banking on more good news in FY12 and they might get it in the form of 12.8% growth in earnings per share (consensus forecast). That places the shares today on a PE multiple of 14.6 (FY12). Not excessive, but not exactly cheap either.

ARB shares had rallied above consensus target in April, but they've pulled back since in what can be described as another classic example of the Icarus Signal. But the bulls are not giving up. They've pushed the share price back within reach of the target.

ARB and Equinox ((EQN)) are the two newcomers among stocks trading close to price target. Catalpa Resources ((CAH)) -in play- is the only newcomer trading above target, which is no surprise given general weakness in the Australian share market yesterday.

A special mentioning goes out to OZ Minerals ((OZL)) whose 10-for-1 share consolidation is causing mayhem with FNArena's data and tables today. This should be corrected by tomorrow.

Kula Gold ((KGD)) and Ferraus ((FRS)) have joined the Bottom 50 of the Icarus Signal

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 $ 8.00 $ 8.11 1.41% 2 EQN $ 7.56 $ 7.60 0.58%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 CAH $ 1.77 $ 1.75 – 1.13%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 FRS $ 0.79 $ 1.15 46.50% 2 KGD $ 1.72 $ 2.55 48.26%

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