Analysts at Wells Fargo & Co. reiterated a Hold rating on shares of Arctic Cat Inc. (NASDAQ: ACAT) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Hold on the shares, the company has a 52-week high of $25.60. A number of other analysts have issued reports on the stock in recent days, and Arctic Cat Inc. has earned a consensus one-year price target of $14.17, lower than the opening price of $14.30. Stock prices often trend to the upside on recommendations and new price targets of professional brokerage firms.
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 Arctic Cat Inc. (NASDAQ: ACAT) opened at $14.30 yesterday trading between $13.77 and $14.30, and last traded at $14.07, which is a decrease of $0.13 over the previous closing price.
Arctic Cat Inc. (NASDAQ: ACAT) now has a market cap of 183.57M.
The stock’s average daily volume is 147,327 shares out of a total float 12,906,000 and some 135,104 shares traded hands yesterday, 50 percent lower than normal. Swing traders often use upticks in trading volume to identify heavy volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Arctic Cat Inc. (NASDAQ: ACAT) now has a 50-day MA of $14.74 and 200-day MA of $15.92. It has traded in a 52-week range between $8.90 – 25.60 and today’s last price is 0.45% lower than the 52 week high of $25.60.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings at least 25% or more for 3 consecutive years.
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