Analysts at Zacks Investment Research upgraded shares of Akzo Nobel (NASDAQ: AKZOY) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the stock. The one-year price target of $22.00 is lower than the opening price of $22.57, that has caused a number of other analysts to comment on the stock in recent days. Looking back over the last 52 weeks, Akzo Nobel stock has a high of $24.45. Typically, after analysts give an upgrade report on a stock, they will later issue sporadic updates, often followed by a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Akzo Nobel (NASDAQ: AKZOY) opened at $22.57 yesterday and traded in a range between, $22.33 and $22.57, and last traded at $22.43, which is a spike of $0.07 compared to the previous closing price.
Akzo Nobel (NASDAQ: AKZOY) currently has a market cap of 16.95B.
22,915 shares crossed the trading desk yesterday, 37 percent lower than the average, out of a total float 755,313,000. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to pinpoint large volume growth or distribution by institutional investors.
However, just a day of significant buy side trading is not enough to assert a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Akzo Nobel (NASDAQ: AKZOY) now has a 50-day MA of $22.34 and 200-day MA of $22.26. It has traded in a 52-week range between $18.73 – 24.45 and today’s last price is 0.08% lower than the 52 week high of $24.45.
Earnings growth is a crucial factor to research when buying stocks and investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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