The 6 Dow Stocks Holding the Market Down in 2016

The first quarter has come to a close, and so far in 2016 this market cycle has been fairly convoluted. We saw oil prices fall into the $20 range and then recover, yet another Federal Reserve rate hike delay, and even relative currency fluctuations in Europe and China. But after much waiting, the broad markets and the Dow Jones Industrial Average (DJIA) in particular have made it back to positive territory.

Although the year got off to a slow start, it has taken about three months for the DJIA to go positive. The push to positive was in fact made by the Dogs of the Dow, but this push was stalled for some time by a few laggards, mainly the financial companies in the index, but still a few others.

Out of the 30 stocks that comprise the DJIA, Goldman Sachs Group Inc. (NYSE: GS) continues to top the list as the worst performer. Year to date, its stock has dropped about 12%. Shares of Goldman Sachs closed trading at $159.82 on Friday, with a consensus analyst price target of $188.54 and a 52-week trading range of $139.05 to $218.77.

Despite not being one of the financial companies, Boeing Co. (NYSE: BA) is the second worst performing Dow stock, with shares down over 11% year to date. Most of this drop was seen from January to mid-February and then the stock made a slight recovery. Shares of Boeing were trading at $126.96 on Friday’s close, with a consensus price target of $137.95 and a 52-week range of $102.10 to $155.50.

American Express Co. (NYSE: AXP) is nearly tied for second worst performer, with the stock down about 11% year to date. Its shares ended last week at $61.10, within a 52-week range of $50.27 to $81.92. The consensus price target is $63.96.
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Rounding out the top four worst performing Dow stocks is JPMorgan Chase & Co. (NYSE: JPM), as its share price is down close to 10% year to date. Shares closed trading on Friday at $59.87, with a consensus price target of $69.29 and a 52-week range of $50.07 to $70.61.

Getting away from the double-digit declines that the aforementioned Dow stocks have seen, Pfizer Inc. (NYSE: PFE) is down only 7% year to date. The stock was trading at $20.04 as Friday’s session wrapped up, with a consensus price target of $38.81. The 52-week range is $28.25 to $36.46.

In the grand scheme of things, a loss of 5% is sustainable but still not good. Walt Disney Co. (NYSE: DIS) completes the list of these companies holding down the DJIA. Although it is not down that much, the Mouse House is one of the larger Dow stocks, relatively speaking. Disney shares closed trading at $99.07 on Friday, with a consensus analyst target of $108.93 and a 52-week range of $86.25 to $122.08.