- State Street (STT) just hit new all-time highs.
- The stock has strong technical momentum and is trading above key moving averages.
- STT boasts a 100% “Buy” opinion from Barchart and is up nearly 33% over the past year.
- While STT is favored by Wall Street and individual investors, volatility remains high, so disciplined risk management is recommended.
Today’s Featured Stock
Valued at $33.3 billion State Street (STT) is a financial holding company. It provides a range of products and services for institutional investors worldwide through its subsidiaries.
Its customers include providers of mutual funds, managers of collective investment funds and other investment pools, providers of corporate and public retirement plans, insurance companies, foundations, endowments and investment managers.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. STT checks those boxes. The Trend Seeker signaled a new “Buy” on Sept. 29.
STT Price vs. Daily Moving Average:
Barchart Technical Indicators for State Street
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
State Street hit an all-time high of $117.31 in intraday trading on Sept. 29.
- STT has a Weighted Alpha of +37.24.
- State Street has an 100% “Buy” opinion from Barchart.
- The stock gained 32.94% over the past year.
- STT has its Trend Seeker “Buy” signal intact.
- State Street is trading above its 20-, 50-, and 100-day moving averages.
- The stock made 5 new highs and gained 1.98% in the last month.
- Relative Strength Index (RSI) is at 66.36.
- There’s a technical support level around $116.07.
Don’t Forget the Fundamentals
- $33.3 billion market capitalization.
- 12.27x trailing price-earnings ratio.
- 2.87% dividend yield.
- Revenue is projected to grow 5.36% this year and another 3.75% next year.
- Earnings are estimated to increase 13.66% this year and an additional 11.07% next year.
Analyst and Investor Sentiment on State Street
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping stock, it’s hard to make money swimming against the tide.
It looks like Wall Street analysts are high on STT and so are individual investors.
- The Wall Street analysts tracked by Barchart have issued 10 “Strong Buys,” 3 “Moderate Buys,” 5 “Hold” and 1 “Sell” opinion on the stock.
- The price targets tracked by Barchart are between $94-$133.
- Value Line gives the stock its “Above Average” rating with a price target of $135.
- CFRA’s MarketScope Advisor rates it a “Buy” with a price target of $124.
- Morningstar thinks the stock is 21% overvalued.
- 1,134 investors following the stock on Motley Fool think the stock will beat the market while 539 think it won’t.
- 18,200 investors monitor the stock on Seeking Alpha, which rates the stock a “Hold.”
The Bottom Line on STT
STT appears to have backing not only from Wall Street, but also from other financial advisory sites and individual investors. Positive projections of increases in both revenue and earnings are a good sign.
Today’s Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here.
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
