Tractor Supply, Ascena Retail in Thursday’s 52-Week Low Club
October 20, 2016: Here are four stocks trading with relatively heavy volume among 52 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by more than 4 to 3 and on the Nasdaq decliners led…
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October 20, 2016: Here are four stocks trading with relatively heavy volume among 52 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by more than 4 to 3 and on the Nasdaq decliners led advancers by about 7 to 6.
Tractor Supply Co. (NASDAQ: TSCO) dropped about 6.1% on Thursday to post a new 52-week low of $63.26 against a 52-week high of $97.25. Volume of about 4.7 million was more than double the daily average of around 1.9 million. The stock closed at $67.37 on Wednesday night. Third-quarter results were hit by a slowdown in ag- and energy-producing markets, and investors were not slow to leave the stock behind.
Ascena Retail Group Inc. (NASDAQ: ASNA) lost about 3.3% Thursday to post a new 52-week low of $4.69 after closing Wednesday at $4.85. The 52-week high is $14.03. Volume of about 3.7 million was around 10% higher than the daily average of about 3.3 million shares traded. The company had no specific news Thursday.
Syntel Inc. (NASDAQ: SYNT) dropped more than 17% on Thursday to post a new 52-week low of $21.88 after closing at $26.44 on Wednesday. The stock’s 52-week high is $50.92. Volume was nearly 6 times the daily average of around 550,000 shares. The company reported a third-quarter loss this morning.
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BJ’s Restaurants Inc. (NASDAQ: BJRI) lost about 9.7% Thursday to post a new 52-week low of $32.24 after closing Wednesday at $35.69. The 52-week high is $47.95. Volume of about 2.5 million was about 8 times the daily average of around 330,000 shares traded. The casual-dining chain missed estimates when it reported earnings this morning.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
