Price Action Report: Is Buying Drew Industries, Inc. Here a Winning Strategy?

Price Action Report: Is Buying Drew Industries, Inc. Here a Winning Strategy?

The stock of Drew Industries, Inc. (NYSE:DW) hit a new 52-week high and has $107.74 target or 4.00% above today’s $103.60 share price. The 6 months bullish chart indicates low risk for the $2.53B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $107.74 price target is reached, the company will be worth $101.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 61,868 shares traded hands. Drew Industries, Inc. (NYSE:DW) has risen 59.17% since April 22, 2016 and is uptrending. It has outperformed by 53.76% the S&P500.

Analysts await Drew Industries, Inc. (NYSE:DW) to report earnings on February, 9.

Drew Industries, Inc. (NYSE:DW) Ratings Coverage

Out of 3 analysts covering Drew Industries (NYSE:DW), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Drew Industries has been the topic of 4 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock of Drew Industries, Inc. (NYSE:DW) earned “Buy” rating by Citigroup on Monday, August 15. Citigroup maintained Drew Industries, Inc. (NYSE:DW) rating on Friday, May 20. Citigroup has “Buy” rating and $85 price target. The firm earned “Buy” rating on Friday, November 4 by CL King. The company was initiated on Thursday, October 8 by Sidoti.

According to Zacks Investment Research, “Drew Industries Incorporated has two reportable operating segments, the manufactured housing products segment and the recreational vehicle products segment. Several of the Company’s customers produce both manufactured homes and recreational vehicles, and the Company supplies products having similar characteristics for use in both these lines of business.”

Insitutional Activity: The institutional sentiment decreased to 1.53 in Q2 2016. Its down 0.22, from 1.75 in 2016Q1. The ratio worsened, as 15 funds sold all Drew Industries, Inc. shares owned while 52 reduced positions. 51 funds bought stakes while 66 increased positions. They now own 23.25 million shares or 1.29% more from 22.96 million shares in 2016Q1.
Motley Fool Wealth Mngmt Ltd Liability Com owns 84,095 shares or 0.78% of their US portfolio. Tfs Capital Limited Liability has invested 0.09% of its portfolio in Drew Industries, Inc. (NYSE:DW). Ranger Invest Lp holds 1.88% of its portfolio in Drew Industries, Inc. (NYSE:DW) for 359,120 shares. Moreover, Blackrock Advsr has 0% invested in Drew Industries, Inc. (NYSE:DW) for 15,197 shares. Capstone Asset Mngmt Comm holds 0.02% or 9,700 shares in its portfolio. The Virginia-based Dixon Hubard Feinour And Brown Va has invested 0.29% in Drew Industries, Inc. (NYSE:DW). Parametric Port Associate Lc accumulated 0.01% or 38,215 shares. Panagora Asset Mgmt owns 89 shares or 0% of their US portfolio. Tci Wealth Advsrs has invested 0% of its portfolio in Drew Industries, Inc. (NYSE:DW). Blackrock Japan last reported 0% of its portfolio in the stock. Nicholas Prtnrs L P holds 0.33% of its portfolio in Drew Industries, Inc. (NYSE:DW) for 55,785 shares. Bbva Compass Fincl Bank holds 0.07% of its portfolio in Drew Industries, Inc. (NYSE:DW) for 10,569 shares. First Amer Bankshares holds 0.04% or 4,840 shares in its portfolio. Aberdeen Asset Mngmt Public Limited Com Uk holds 217,431 shares or 0.07% of its portfolio. First Manhattan, a New York-based fund reported 114,609 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 12 sales for $6.08 million net activity. $55,427 worth of Drew Industries, Inc. (NYSE:DW) was sold by Hall Brian Michael. LOWE JOHN B JR sold 10,687 shares worth $826,960. On Thursday, August 25 Mereness Scott T sold $605,500 worth of the stock or 6,000 shares. HEGI FREDERICK B JR also sold $187,200 worth of Drew Industries, Inc. (NYSE:DW) shares. Shares for $999,300 were sold by LIPPERT JASON on Thursday, August 18. Another trade for 5,527 shares valued at $447,190 was made by ABRAMS LEIGH J on Wednesday, June 15. Deely Brendan sold $350,000 worth of stock or 3,500 shares.

More notable recent Drew Industries, Inc. (NYSE:DW) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on October 12, 2010, also Prnewswire.com with their article: “Drew Industries Reports 2016 Third Quarter Results” published on November 03, 2016, Forbes.com published: “Ex-Dividend Reminder: Drew Industries, Wyndham Worldwide and D.R. Horton” on November 21, 2016. More interesting news about Drew Industries, Inc. (NYSE:DW) were released by: Prnewswire.com and their article: “Drew Industries Agrees To Acquire The Seating And Chassis Component Business …” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “Drew Industries Acquires Highwater Marine Furniture Division” with publication date: January 27, 2016.

DW Company Profile

Drew Industries Incorporated, incorporated on March 20, 1984, through its subsidiaries, supplies an array of components in the United States and abroad for the manufacturers of recreational vehicles (RVs) and manufactured homes. The Firm also supplies components for adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; pontoon boats; modular housing, and mobile office units. The Firm operates in two divisions, which include the recreational vehicle products segment (the RV Segment), and the manufactured housing products segment (the MH Segment). RVs are motorized (motorhomes) or towable, such as travel trailers, fifth-wheel travel trailers, folding camping trailers and truck campers.

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