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Roof Leaker To Watch: Huntington (HBAN)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Huntington ( HBAN) as a "roof leaker" (crossing below the 200-day simple moving average on higher than normal relative volume) candidate. In addition to specific proprietary factors, Trade-Ideas identified Huntington as such a stock due to the following factors:

  • HBAN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $123.0 million.
  • HBAN has traded 8.4 million shares today.
  • HBAN is trading at 1.76 times the normal volume for the stock at this time of day.
  • HBAN crossed below its 200-day simple moving average.

'Roof Leaker' stocks are worth watching because trading stocks that begin to experience a breakdown can lead to potentially massive losses. Once psychological and technical resistance barriers like the 200-day moving average are breached on higher than normal relative volume, the stock may then be subject to emotional selling from investors that can continue to drive the stock lower. Regardless of the impetus behind the price and volume action, when a stock moves with weakness and volume it can indicate the start of a new, potentially dangerous, trend.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in HBAN with the Ticky from Trade-Ideas. See the FREE profile for HBAN NOW at Trade-Ideas

More details on HBAN:

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, small business, and consumer banking services. The stock currently has a dividend yield of 2%. HBAN has a PE ratio of 13.5. Currently there are 4 analysts that rate Huntington a buy, no analysts rate it a sell, and 10 rate it a hold.

The average volume for Huntington has been 10.9 million shares per day over the past 30 days. Huntington has a market cap of $7.8 billion and is part of the financial sector and banking industry. The stock has a beta of 1.14 and a short float of 1.7% with 1.01 days to cover. Shares are down 5% year-to-date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Huntington as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 13.2%. Since the same quarter one year prior, revenues slightly increased by 0.5%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
  • Compared to its closing price of one year ago, HBAN's share price has jumped by 31.50%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, HBAN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The gross profit margin for HUNTINGTON BANCSHARES is currently very high, coming in at 91.74%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 20.68% is above that of the industry average.
  • HUNTINGTON BANCSHARES reported flat earnings per share in the most recent quarter. Stable earnings per share over the past year indicate the company has sound management over its earnings and share float. Despite the past stability of earnings, the consensus estimate anticipates a weakening in earnings. During the past fiscal year, HUNTINGTON BANCSHARES's EPS of $0.72 remained unchanged from the prior years' EPS of $0.72. For the next year, the market is expecting a contraction of 1.4% in earnings ($0.71 versus $0.72).

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