3 Well-Known Stocks Hit 52-Week Lows Monday While The Overall Market Surged Higher
Portfolio Pulse from Chris Katje
Target, Dollar General, and Estée Lauder hit new 52-week lows on Monday, while the S&P 500 continued to surge. Target faced downgrades and a social media boycott, Dollar General reported disappointing Q1 results and cut its outlook, and Estée Lauder experienced mixed Q3 results and slashed price targets.
June 13, 2023 | 6:25 pm
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NEGATIVE IMPACT
Dollar General hit a new 52-week low of $151.27 on Monday, down 35.8% YTD and 31.4% in the last 52 weeks. The company reported disappointing Q1 results and cut its full fiscal 2023 outlook.
Dollar General's stock price is likely to be negatively impacted in the short term due to the disappointing Q1 results and the cut in its full fiscal 2023 outlook. The lowered outlook and analysts' reduced expectations could weigh on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Estée Lauder hit a new 52-week low of $175.05 on Monday, down 28.1% YTD and 23.4% in the last 52 weeks. The company reported mixed Q3 results and faced slashed price targets from analysts.
Estée Lauder's stock price is likely to be negatively impacted in the short term due to the mixed Q3 results and slashed price targets from analysts. The weakness in the company's Asia Pacific and Europe, Middle East & Africa markets could continue to weigh on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Target hit a new 52-week low of $125.08 on Monday, down 15.4% YTD and 11.4% in the last 52 weeks. The company faced downgrades from analysts and a social media boycott related to Pride Month merchandise.
Target's stock price is likely to be negatively impacted in the short term due to the recent downgrades from analysts and the social media boycott. The boycott could affect the company's current fiscal quarter and ongoing full fiscal year.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100