Texas (July 30 2013) Wax Ink has issued a Negative Investment Interest rating for Illinois Tool Works, Inc. (NYSE: ITW) based on a recent baseline equity review which placed fair value between $48-$57.
The recent close of $71.63 is approximately 148% above the fair value buy target for the stock and approximately 21% above the fair value close target for the stock. The recent close is also 3% below analysts' twelve-month $74.00 median price target for the stock.
The recent close represents a 30% increase in the year over year price of the stock.
The stock currently has a trailing twelve-month PE Ratio of 16, and a PEG Ratio of 1.8 basis estimated forward earnings growth of 9%.
In the past 52 weeks, share prices have moved between a high of $74.07 and a low of $52.80, placing equilibrium at $67.41.
Basis the recent close, the stock is trading 3% below the 52 week high, 26% above the 52 week low, 6% above equilibrium, and has an average daily trading volume of approximately 2 million shares.
Illinois Tool Works, Inc. manufactures and sells a range of industrial products and equipment worldwide.
The company's listed competitors include General Electric Company, The Manitowoc Company, Inc., and Pall Corporation.
Financial information that may be contained herein, is based on the company's most recent annual SEC filing for year ending December 31, 2012. All prices are per share unless otherwise noted.
Wax Ink currently has no investment position in the company mentioned in this alert.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.