Analysts at Credit Agricole SA upgraded shares of Agrium Inc. (NYSE: AGU) from Underperform to Outperform on Tuesday, September 13. A number of other analysts have commented on the shares recently, and the company has earned a consensus one-year price target of $94.09 , higher than the opening price of $91.09. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.
The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.
The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.
Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares
Shares of Agrium Inc. (NYSE: AGU) opened at $91.09 and traded in a range between, $89.22 and $91.93 on Friday, and last traded at $89.89, which represents a change of $ -2.75 over the previous closing price. Agrium Inc.has a 52-week high of $105.60
Agrium Inc. (NYSE: AGU) currently has a market cap of 12.42B
The stocks average daily volume is 717,703 shares out of a total float 138,070,000 of and some 603,437 shares crossed the trading desk yesterday, 122 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re researching.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind Agrium Inc. (NYSE: AGU) now has a 50-day MA is $92.44 and 200-day MA is $90.25, and it has traded in a 52-week range between $79.94 – 105.600 and the last closing price is -0.15 percent off the 52 week high.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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