An Estimate Of Target Price: McKesson Corporation (MCK), Dana Incorporated (DAN)

MCK trading volume has lost -589897 shares compared to readings over the past three months as it recently exchanged 1210103 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1800000 shares, and this is 0.67 times the normal volume. A look at its technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 62.12 point.

McKesson Corporation (NYSE:MCK) climbed by 2.74% over the past three months which led to its overall six-month increase to stand at 3.04%. The equity price rose 1.83% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that its shares have recorded a 10.95% gain over the past 30 days. Over the past 12 months the stock has embarked on a drop that has seen it decline -14.37% and is now up by 18.22% since start of this year.

The shares of McKesson Corporation dropped by -18.82% or -$30.27 from its last recorded high of $160.87 which it attained on March 13 to close at $130.6 per share. Over the past 52 weeks, the shares of McKesson Corporation has been trading as low as $106.11 before witnessing a massive surge by 23.08% or $24.49. This price movement has led to the MCK stock receiving more attention and has become one to watch out for. It dipped by -1.52% on Thursday and this got the market worried. The stock’s beta now stands at 1.21 and when compared to its 200-day moving average and its 50-day moving average, MCK price stands -0.92% below and 8% above respectively. Its average daily volatility for this week is 2.75% which is more than the 2.16% recorded over the past month.

Experts from research firms are bullish about the near-term performance of McKesson Corporation (MCK) with most of them predicting a $136.57 price target on a short-term (12 months) basis. The average price target by the analysts will see a 4.57% rise in the stock and would lead to MCK’s market cap to surge to $27.04B. The stock has been rated an average 2.6, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 18 analysts that track McKesson Corporation (NYSE:MCK) and find out that 11 of them rated it as a Hold. 6 of the 7 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

The price of Dana Incorporated (NYSE:DAN) currently stands at $16.95 after it went down by $-0.71 or -4.02% and has found a strong support at $16.6 a share. If the DAN price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $16.26 mark would also be bad for the stock as it means that the stock would plunge by 4.07% from its current position. However, if the stock price is able to trade above the resistance point around $17.4, then it could likely surge higher to try and break the upward resistance which stands at $17.86 a share. Its average daily volatility over the past one month stands at 3.31%. The stock has plunged by 1.42% from its 52-weeks high of $16.71 which it reached on Dec. 02, 2018. In general, it is 25.37% above its 52-weeks lowest point which stands at $12.65 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Dana Incorporated (DAN) for 1 year and it stands at an average $19.82/share. This means that it would likely increase by 16.93% from its current position. The current price of the stock has been moving between $16.71 and $17.51. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $16. On the other hand, one analyst is super bullish about the price, setting a target as high as $24.

The DAN stock Stochastic Oscillator (%D) is at 74.52%, which means that it is currently neutral. The shares P/S ratio stands at 0.31 which compares to the 1.44 recorded by the industry or the 127.06 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 5.14, which is lower than the 6.12 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 7.2% over the past five years.

Analysts view Dana Incorporated (NYSE:DAN) as a Hold, with 2.3 consensus rating. Reuters surveyed 11 analysts that follow DAN and found that 4 of those analysts rated the stock as a Hold. The remaining 7 were divided, with 7 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Dana Incorporated (DAN) shares or sell it if they already own it.