Analysts at Canaccord Genuity upgraded shares of Columbia Sportswear Co. (NASDAQ: COLM) from Hold to Buy today.With a rating of Buy on the stock, Columbia Sportswear Co. 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 comment on the company recently. Typically, after analysts assign an upgrade report on a stock, they will later issue other revisions, often followed by a price target change.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Columbia Sportswear Co. (NASDAQ: COLM) shares last traded at $56.60, which is a jump of $1.86 compared to the previous closing price. Opening at $56.17, they ranged from $55.80 and $56.95 throughout the day.
Columbia Sportswear Co. (NASDAQ: COLM) now has a market cap of 3.95B.
131,176 shares traded hands yesterday, 58 percent below the average, out of a total float 26,911,000. Investors often use swings in trading volume to identify heavy volume aggregation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
However, just a day of significant buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you are considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Columbia Sportswear Co. (NASDAQ: COLM) have ranged from $43.56 – 66.00, and the stock now has a 50-day MA of $55.60 and 200-day MA of $57.67. 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 identify companies that have been successful at growing their earnings by at least 25% for a 3 year period.
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