Of the 500 stocks in the benchmark large-cap S&P index, around 176 of them have fallen by at least 10 percent from their recent highs, as measured by last Friday's closing price. Many traders often refer to 10 percent drops as a "correction."
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Those companies that rely on consumer spending make up a larger chunk of the 176 lagging stocks.
Among the standout names include GPS maker Garmin. The company has dropped 10 percent since reaching a recent high of $62.05 on July 3.
According to analysts polled by FactSet, the stock has an average target price of $61.64, implying a potential 11 percent upside from current levels. Garmin took a hit on the heels of its most recent earnings report. Garmin is working on diversifying its product mix to be less reliant on mapping and traditional GPS products, and more exposed to outdoor, golf and fitness applications.
Luxury goods retailer Michael Kors has been an investor darling, up a market beating 11 percent over the last 12 months. However, growth concerns and competitive pressures have hurt the stock more recently.
Shares are marginally lower in 2014, but have lost over a fifth of their value since hitting a recent high on Feb. 25. Analysts have an average price target of over $103 for the stock, implying a possible 29 percent upside from current levels.
And then there's Whole Foods Market. The upscale grocer has posted the biggest drop from recent highs in the entire S&P 500 index. Shares have lost 42 percent since hitting a recent high of $65.59 in late October 2013.
Competitive pressures and growth concerns are taking a toll on Whole Foods, as well. Analysts have sharply lowered price expectations for the stock over the last few months. Even with those lowered expectations, an average price target of $43.08, implying a possible 12 percent upside.
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Michael Kors and Whole Foods have posted among the biggest drops in the S&P 500 from recent highs. Of the 176 stocks in the S&P 500 that have lost at least 10 percent from those recent highs, just 30 have posted losses of at least 20 percent through last Friday's close. A drop of 20 percent or more is considered by many traders to be indicative of a bear market. A list of the 30 stocks in bear market territory is above, along with what their recent highs were, and when they were hit.
For traders looking to go beyond trading the broader index, some of the more beaten down names may be places to at least look when it comes to buying on a dip.