Analysts at Zacks Investment Research upgraded shares of Jakks Pacific Inc. (NASDAQ: JAKK) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have spoken on the company in recent days, and the company has secured a consensus one-year price target of $11.00, above the opening price of $8.52, a difference of 12.99 percent. Jakks Pacific Inc. stock has a 52-week high of $9.75. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
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 Jakks Pacific Inc. (NASDAQ: JAKK) shares last traded at $8.47, which represents a drop of $0.03 from the previous closing price. Opening at $8.52, they ranged from $8.45 and $8.88 throughout the day.
Jakks Pacific Inc. (NASDAQ: JAKK) currently has a market cap of 136.81M.
The stock’s average daily volume is 234,808 shares out of a total float 4,574,000 and some 76,294 shares traded hands yesterday, 34 percent lower than normal. Momentum traders often use increases in trading volume to identify large volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.
As with all possible breakouts, investors look 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 have substantial teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Jakks Pacific Inc. (NASDAQ: JAKK) have ranged from $6.17 – 9.75, and the stock now has a 50-day MA of $9.14 and 200-day MA of $8.09. Today’s last price is 0.13% lower than the 52 week high of $9.75.
Earnings growth is a critical factor to consider when buying stocks and investors seek companies that have grown their earnings at least 25% or more for the past 3 years.
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