Analysts at Canaccord Genuity upgraded shares of Columbia Sportswear Co. (NASDAQ: COLM) from Hold to Buy today. With a rating of Buy on the shares, the company has a 52-week high of $66.00. The one-year price target of $64.54 is above the opening price of $56.17, that has caused a number of other analysts to issue statements on the stock recently. Share prices often move 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.
Yesterday Columbia Sportswear Co. (NASDAQ: COLM) shares last traded at $56.49, which represents a jump of $1.75 from the previous closing price. Opening at $56.17, they fluctuated from $55.80 and $56.95 throughout the day.
Columbia Sportswear Co. (NASDAQ: COLM) now has a market cap of 3.94B.
The stock’s average daily volume is 242,694 shares out of a total float 26,911,000 and some 548,363 shares crossed the trading desk yesterday, 122 percent higher than the average. Excessive volume aggregation by institutional investors may be in the near future as the combination of large expansions in trading volume and price appreciation can be indicative factors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
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, Columbia Sportswear Co. (NASDAQ: COLM) now has a 50-day MA of $55.59 and 200-day MA of $57.64. It has traded in a 52-week range between $43.56 – 66.00 and today’s last price is 0.14% lower than the 52 week high of $66.00.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings at least 25% or more over a 3 year period.
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