Icarus Signal New Entries For Today

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

We couldn't help but noticing a downgrade in rating for ARB Corp ((ARP)) this morning. Two other stockbrokers still rate the stock as Buy (or an equivalent rating) but with the share price within striking distance of their targets, it would seem but only a matter of time before the inevitable will happen, more downgrades.

ARB, of course, has been on Icarus' radar this reporting season as a surprisingly good financial report pulled the stock on investors' radar and buying support has subsequently pushed the shares to just under consensus price target. For an industrial stock that is ARB, this is seldom a signal of further strength ahead. Yes, that is a little sarcasm creeping in on the Friday morning. Maybe more downgrades (next week?) might convince more investors that further upside from here appears limited for the near term?

ARB Corp is part of a group of 23 stocks that are trading close but still below target after yesterday's positive price action. Churn remains high with no less than 10 newcomers, of which three descended from trading above target previously. One of these, Matrix Composites and Engineering ((MCE)) had a horrible session, shedding close to 9% yesterday – in an otherwise upwards biased session. Are investors catching up withe the fact that this stock is unlikely to return to those dizzying highs from earlier this year anytime soon? Port Bouvard ((PBD)) and Lycopodium ((LYL)) had a bad session too and both have joined Matrix in descending below target. Where's the recommendation downgrade for Lycopodium we ask?

Beach Petroleum ((BPT)) has been receiving some supportive comments in stockbroking land and we note the shares are rapidly closing in on target. Walter Diversified ((WDS)) equally received a firm endorsement from a stockbroker we don't actively cover at FNArena and its share price too has rallied towards consensus target. Blackmores ((BKL)), Metcash ((MTS)) and Wotif.com ((WTF)) are back on Icarus' radar too. So are Ashton Resources ((AZT)) and SP Ausnet ((SPN)).

There's not as much exciting news about those stocks trading above target today, with three newcomers Charter Hall Retail ((CQR)), St Barbara ((SBM)) and Tassal ((TGR)) taking the tally to 22 as four others left.

Note that embattled uranium miner Paladin Energy ((PDN)) has now joined the Bottom 50.

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 PBD $ 0.05 $ 0.05 0.00% 2 LYL $ 6.30 $ 6.36 0.95% 3 AZT $ 11.91 $ 12.05 1.20% 4 BPT $ 1.11 $ 1.13 1.44% 5 MCE $ 4.27 $ 4.34 1.64% 6 SPN $ 0.95 $ 0.96 1.69% 7 WDS $ 0.84 $ 0.85 1.80% 8 WTF $ 4.32 $ 4.43 2.43% 9 BKL $ 30.00 $ 30.88 2.93% 10 MTS $ 4.10 $ 4.22 2.95%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 CQR $ 3.34 $ 3.33 – 0.27% 2 SBM $ 2.15 $ 2.10 – 2.33% 3 TGR $ 1.40 $ 1.36 – 2.86%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 AVG $ 0.29 $ 0.58 100.00% 2 IPD $ 0.60 $ 1.14 90.00% 3 BOL $ 0.26 $ 0.49 88.46% 4 BND $ 0.99 $ 1.80 81.82% 5 HZN $ 0.25 $ 0.45 78.00% 6 IAU $ 1.53 $ 2.70 76.47% 7 QRX $ 1.35 $ 2.38 76.30% 8 PEM $ 0.61 $ 1.05 73.55% 9 HFA $ 0.90 $ 1.56 73.33% 10 DTE $ 0.70 $ 1.20 71.43% 11 PGA $ 0.04 $ 0.06 71.43% 12 AQP $ 3.71 $ 6.20 67.12% 13 MAQ $ 8.10 $ 13.51 66.79% 14 AJA $ 2.37 $ 3.93 65.82% 15 LNC $ 2.27 $ 3.75 65.20% 16 MPO $ 0.71 $ 1.15 63.12% 17 ELD $ 0.31 $ 0.50 62.26% 18 BSL $ 0.85 $ 1.37 61.53% 19 RQL $ 0.53 $ 0.86 61.32% 20 TAP $ 0.74 $ 1.19 61.22% 21 CSV $ 0.85 $ 1.37 60.59% 22 HTA $ 0.06 $ 0.10 60.00% 23 GBG $ 0.70 $ 1.12 59.57% 24 KGD $ 1.60 $ 2.55 59.38% 25 GRR $ 0.56 $ 0.89 58.57% 26 PDN $ 2.02 $ 3.19 58.12% 27 GNS $ 0.21 $ 0.32 57.56% 28 COK $ 0.42 $ 0.66 57.14%

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