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4 stocks hammered on the ASX today

It can be tough for investors when the market is up and your stocks are heading in the opposite direction.

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) soared 2.1% today, while these 4 stocks saw their share prices hammered…

Pact Group Holdings Ltd (ASX: PGH) share price dropped 7.5% to $4.78. Australasia’s largest manufacturer of rigid plastics packaging reaffirmed its guidance for the 2016 financial year, but did warn that general trading conditions were subdued and the company was anticipating lower demand for packaging, particularly from the agriculture and dairy sectors.

James Hardie Industries plc (ASX: JHX) saw its share price also sank 7.5% to $16.51. The building materials producer today announced a US$128.8 million operating profit for the six months ending September 30, up 12% over the previous period. But investors might’ve been spooked by the company saying that analysts’ full year expectations were too high. Analysts had expected the company to report between US$252 and US$270 million, but James Hardie is expecting between US$230 and $US$250 million thanks to a weak US homes market.

Speedcast International Ltd’s (ASX: SDA) share price fell 5.5% to $4.32. The satellite communications and internet provider has seen its share price soar by 134% so far this year, and investors’ expectations may have been too high. A small pullback in the share price appears reasonable. I recently named Speedcast as one of my top 10 small cap stocks to watch, and any further pullbacks might be a signal to jump in.

Lovisa Holdings Ltd (ASX: LOV) saw its share price drop 5% to $3.05, but are still up more than 30% so far this year, and featured in this article back in February. The jewellery and accessories retailer now has 239 stores and is expanding into some unusual places including Saudi Arabia. The company announced today that it was also going to run a pilot program of 3-5 stores in the UK, with the first store opening in Leeds in the first week of December.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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