Analysts at Robert W. Baird upgraded shares of Education Realty Trust Inc. (NYSE: EDR) from Neutral to Outperform today.With a rating of Outperform on the stock, Education Realty Trust Inc. has a 52-week high of $48.87. The one-year price target of $49.41 is higher than the opening price of $44.24, causing a fair amount of other analysts to report on the company in recent days. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
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 Education Realty Trust Inc. (NYSE: EDR) shares last traded at $43.37, which is a spike of $0.40 compared to the previous closing price. Opening at $44.24, they varied from $43.34 and $44.24 throughout the day.
Education Realty Trust Inc. (NYSE: EDR) now has a market cap of 3.17B.
The stock’s average daily volume is 761,922 shares out of a total float 72,705,000 and some 115,108 shares crossed the trading desk yesterday, 103 percent lower than normal. Swing traders often use swings in trading volume to pinpoint substantial volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to look 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.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re considering.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Education Realty Trust Inc. (NYSE: EDR) have ranged from $30.61 – 48.87, and the stock now has a 50-day MA of $45.56 and 200-day MA of $43.40. Today’s last price is 0.11% lower than the 52 week high of $48.87.
Earnings growth is an important factor to look at when investing in stocks and investors watch for companies that have increased their earnings at least 25% or more for 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.