Take Some Profit in Kronos (KRO)
Kronos Worldwide (KRO) is now up 18% from our initial entry point as of Thursday, which means it’s time to take some profit off the table per the rules of our trading discipline.
KRO had been performing well since reporting an estimate-beating 21% revenue increase in the company’s latest quarterly earnings. But the stock got an even bigger boost today after Deutsche Bank raised its price target on the stock from 18 to 20. Subsequently, KRO was up 10% this afternoon after the announcement.
Kronos also declared a 16-cent dividend on Wednesday (4% yield), in line with the previous one.
I’m recommending that traders take 50% profit in KRO and raise the stop-loss on the remaining position to slightly under 15.90 (closing basis). SELL A HALF