NEW YORK ( TheStreet) -- On July 24 I wrote, Downgrades Point to Weak Construction Spending Ahead and on Tuesday we learned that construction spending rose a better than expected 0.6% in July. This information prompted me to provide an update on the profiles for the 11 construction-related companies I covered on July 24. All 11 stocks had sell ratings according to www.ValuEngine.com, and today they all have hold ratings.
Between July 23 and Aug. 30 all 11 stocks profiled then and now have traded lower; four by less than 2%, and seven by 5.9% to 11.7%. On July 23 nine of the 11 were above their 200-day simple moving averages and today there are six as the risk of reversion to the mean was a factor.
Reading the Table
Stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine.
A "1-engine" rating is a strong sell, a "2-engine" rating is a sell, a "3-engine" rating is a hold, a "4-engine" rating is a buy and a "5-engine" rating is a strong buy.
Last 12-Month Return (%):
Stocks with a red number declined by that percentage over the last 12 months. Stocks with a black number increased by that percentage.
Forecast 1-Year Return:
Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.
Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.
A level between a value level and risky level that should be a magnet during the time frame noted.
Price at which to enter a GTC limit order to sell on strength.
(BGC - Get Report)
($30.24) beat EPS estimates by 13 cents earning 69 cents a share on July 31. The provider of cooper and fiber optic wiring traded up to $33.36 on Aug. 1 and has been below its 200-day simple moving average at $32.32 since Aug. 15. My semiannual value level at $23.89 a weekly pivot at $32.28 and a monthly risky level at $35.45.