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Equity Actions

BECN

Beacon Roofing Supply (NASDAQ:BECN) received mixed ratings from analysts in the last quarter, with an average 12-month price target of $99.00. The high estimate is $119.00 and the low estimate is $80.00. Notably, the average price target increased by 2.33% over the past month. Analysts from Stifel, JP Morgan, Truist Securities, and RBC Capital have adjusted their price targets and ratings, reflecting their views on the company's market dynamics and performance. Beacon Roofing Supply operates in the roofing and building materials industry in the US and Canada, and has shown a revenue growth rate of 7.0% as of September 30, 2023. However, the company faces challenges with a net margin of -10.17%, ROE of -13.93%, and ROA of -4.03%, indicating potential issues in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

LECO

Analysts have provided mixed ratings for Lincoln Electric Holdings (NASDAQ:LECO) in the last quarter, with 1 bullish, 2 indifferent, and 1 bearish. The average 12-month price target is $195.00, a decrease from the previous $201.00. Actions by analysts include both raised and lowered price targets, reflecting changing market conditions and company performance. Lincoln Electric, a leading manufacturer in welding and cutting products, has shown revenue growth but faces challenges in net margin and debt management. The company's ROE and ROA outperform industry averages.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

INTC

Options trading activity for Intel Corporation (NASDAQ:INTC) shows a bullish trend among investors, with 71% of the detected 45 trades being bullish. The trades include 10 puts worth $848,351 and 35 calls worth $2,635,466, targeting a price range of $25 to $60 over the last 3 months. The largest options spotted suggest a bullish sentiment, with significant trades for calls at strike prices of $30 and $45.50. Intel, a leading chipmaker, is currently trading at $45.55 with a potential overbought RSI indicator and an earnings announcement expected in 37 days. Analyst ratings from B of A Securities, Benchmark, and Raymond James have set target prices ranging from $48 to $52, with an average target price of $50.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

TKR

Over the past 3 months, 4 Wall Street analysts have updated their ratings on Timken (NYSE:TKR), with an average 12-month price target of $84.25, down from the previous $95.00. The ratings include 1 'Buy', 1 'Overweight', 1 'Neutral', and 1 'Underperform', with recent price target adjustments by analysts from Stifel, Keybanc, Citigroup, and B of A Securities. Timken's financials show a positive revenue trend but below-average net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:00 pm

LEGN

Legend Biotech (NASDAQ:LEGN) received 4 analyst ratings in the last quarter, with 2 bullish, 1 somewhat bullish, and 1 indifferent. The 12-month price targets from these analysts average $82.75, with a high of $93.00 and a low of $65.00. The current average shows a 5.61% decline from the prior average. Legend Biotech is a clinical-stage biopharmaceutical company with a lead CAR T cell therapy product for multiple myeloma. The company has shown a revenue growth rate of 250.91% as of September 30, 2023, but faces challenges with a net margin of -64.79%, ROE of -4.53%, and ROA of -3.3%. Its debt-to-equity ratio is 0.24, below industry norms.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:00 pm

AAPL

BOND

MSFT

NVDA

SPY

Investors are showing increased optimism for profit outlook in 2024, leading to higher equity allocations in portfolios. Bank of America's survey indicates the most positive profit outlook since February 2022, with equity allocation at its highest since then. The SPDR S&P 500 ETF (SPY) has gained 24% in 2023. Investors are cautious about overcrowded equity trades, especially in big tech stocks like Apple (AAPL), Microsoft (MSFT), and Nvidia (NVDA), with NVDA being the best-performing S&P 500 stock this year. Expectations of Fed rate cuts are seen as favorable for technology stocks and bonds, with the PIMCO Active Bond ETF (BOND) up 7.2% recently.

Portfolio Pulse from Neil Dennis

December 19, 2023 | 4:51 pm

NIO

Nio Inc - ADR (NYSE:NIO) shares rose by 5.9% to $8.84 on Tuesday, potentially due to overall market strength and positive momentum from the announcement of a $2.2 billion strategic equity investment from Abu Dhabi-based investment group CYVN. This investment will give CYVN approximately 20.1% ownership in NIO and includes director nominations and strategic collaborations. The funds are expected to support NIO's technology, brand, and international expansion, with both parties optimistic about long-term growth.

Portfolio Pulse from Henry Khederian

December 19, 2023 | 4:50 pm

MULN

Mullen Automotive Inc. (NASDAQ:MULN) announced a 1-for-100 reverse stock split effective December 21, 2023, to comply with Nasdaq's $1.00 minimum bid price requirement. The split will adjust outstanding equity awards, warrants, convertible notes, and preferred stock conversion prices. No fractional shares will be issued; they will be rounded up to the nearest whole share. The split aims to maintain Nasdaq listing but does not guarantee meeting the minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:49 pm

HIVE

HIVE Digital has announced a bought deal private placement of 5 million special warrants at a price of $5 per warrant, totaling $25 million in financing.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:49 pm

HIVE

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) has announced a $25 million bought deal private placement of 5 million special warrants at $5 each to support its Bitcoin production and expand its green mining operations by 100MW. The deal is led by Stifel Canada and Canaccord Genuity, with an option for the underwriters to purchase an additional 15% of the special warrants. The offering is contingent on regulatory and corporate approvals.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:44 pm