What’s LegacyTexas Financial Group Inc (LTXB) Downside After Forming Bearish Ascending Triangle?

November 21, 2017 - By Maria Brooks

The stock of LegacyTexas Financial Group Inc (LTXB) formed an ascending triangle with $37.65 target or 4.00 % below today’s $39.22 share price. The 9 months triangle pattern indicates high risk for the $1.88B company. If the $37.65 price target is reached, the company will be worth $75.20 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 34,084 shares traded. LegacyTexas Financial Group Inc (NASDAQ:LTXB) has risen 38.38% since November 21, 2016 and is uptrending. It has outperformed by 21.68% the S&P500.

Wall Street await LegacyTexas Financial Group Inc (NASDAQ:LTXB) to release earnings on January, 23. Analysts forecast EPS of $0.62, up exactly $0.08 or 14.81 % from 2014’s $0.54 EPS. The expected LTXB’s profit could reach $29.72 million giving the stock 15.81 P/E in the case that $0.62 earnings per share is reported. After posting $0.61 EPS for the previous quarter, LegacyTexas Financial Group Inc’s analysts now forecast 1.64 % EPS growth.

LegacyTexas Financial Group Inc (NASDAQ:LTXB) Ratings Coverage

Among 9 analysts covering LegacyTexas Group (NASDAQ:LTXB), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. LegacyTexas Group had 20 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was maintained by Stephens on Wednesday, July 19 with “Hold”. The firm has “Buy” rating given on Friday, August 25 by Piper Jaffray. The stock of LegacyTexas Financial Group Inc (NASDAQ:LTXB) earned “Buy” rating by Compass Point on Thursday, July 21. The rating was maintained by SunTrust with “Buy” on Thursday, October 26. Piper Jaffray maintained LegacyTexas Financial Group Inc (NASDAQ:LTXB) on Wednesday, July 19 with “Buy” rating. The firm has “Overweight” rating by Stephens given on Thursday, April 21. FBR Capital upgraded LegacyTexas Financial Group Inc (NASDAQ:LTXB) rating on Wednesday, May 18. FBR Capital has “Outperform” rating and $30 target. The firm earned “Buy” rating on Tuesday, October 3 by Keefe Bruyette & Woods. The stock of LegacyTexas Financial Group Inc (NASDAQ:LTXB) earned “Market Perform” rating by Hovde Group on Thursday, July 21. On Tuesday, June 7 the stock rating was initiated by Compass Point with “Buy”.

More recent LegacyTexas Financial Group Inc (NASDAQ:LTXB) news were published by: Nasdaq.com which released: “LegacyTexas Financial Group, Inc. (LTXB) Ex-Dividend Date Scheduled for …” on November 02, 2017. Also Seekingalpha.com published the news titled: “LegacyTexas Financial Group’s (LTXB) CEO Kevin Hanigan on Q2 2017 Results …” on July 19, 2017. Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Lakeland Bancorp, LegacyTexas Financial Group and 1st …” with publication date: November 01, 2017 was also an interesting one.

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