Could Orchids Paper Products Company Recover After Today’s Gap Up?
by Staff Contributor — June 30, 2016
The stock of Orchids Paper Products Company (NYSEMKT:TIS) gapped up by $0.05 today and has $50.21 target or 41.00% above today’s $35.61 share price. The 8 months technical chart setup indicates low risk for the $369.19 million company. The gap was reported on Jun, 30 by Barchart.com. If the $50.21 price target is reached, the company will be worth $151.37M more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 2.30% or $0.8 during the last trading session, hitting $35.61. About 87,277 shares traded hands or 39.82% up from the average. Orchids Paper Products Company (NYSEMKT:TIS) has risen 18.66% since November 23, 2015 and is uptrending. It has outperformed by 21.20% the S&P500.
Analysts await Orchids Paper Products Company (NYSEMKT:TIS) to report earnings on August, 3. They expect $0.38 EPS, up 11.76% or $0.04 from last year’s $0.34 per share. TIS’s profit will be $3.94M for 23.43 P/E if the $0.38 EPS becomes a reality. After $0.54 actual EPS reported by Orchids Paper Products Company for the previous quarter, Wall Street now forecasts -29.63% negative EPS growth.
Out of 4 analysts covering Orchids Paper Products Co (NYSEMKT:TIS), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Orchids Paper Products Co has been the topic of 4 analyst reports since October 15, 2015 according to StockzIntelligence Inc.
