Downgrade Alert for GP Strategies (GPX)
GP Strategies (NYSE:GPX) was downgraded from Buy to Neutral at B. Riley today. The stock closed yesterday at $24.75 on volume of 33,000 shares, below average daily volume of 39,000.
GP Strategies has overhead space with shares priced $24.75, or 16.1% below the average consensus analyst price target of $29.50. GP Strategies shares should first meet resistance at the 200-day moving average (MA) of $25.18 and find additional resistance at the 50-day MA of $25.68.
GP Strategies share prices have moved between a 52-week high of $35.39 and a 52-week low of $19.59 and closed yesterday at 26% above that low price at $24.75 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.
GP Strategies Corporation provides performance improvement services and products. The Company's customers include multinational companies in manufacturing and process industries, electrical power utilities, and other commercial and governmental customers. GP Strategies also manufactures and distributes molded and coated optical products.
SmarTrend recommended that subscribers consider buying shares of GP Strategies on August 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.12. Since that recommendation, shares of GP Strategies have risen 13.5%. We continue to monitor GPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades gp strategies