Leidos Holdings Inc. (NYSE: LDOS) Stock Coverage Initiated at Citigroup Inc.

Analysts at Citigroup Inc. initiated coverage on Leidos Holdings Inc. (NYSE: LDOS) stock, rating the company at Buy and a price target of $47.00. As a means of comparison, a number of other analysts have commented on the company recently, and the company has secured a consensus one-year price target of $49.67, $41.26. Leidos Holdings Inc.stock has a 52-week high of $59.52.After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.

Meanwhile U.S stocks were up on Tuesday after the long holiday weekend, with the NASDAQ establishing a new record closing high

The Dow Jones Industrial Average DJIA, +0.25% finished up 46.16 points, or 0.3%, at 18,538.12.

The S&P 500 index SPX, +0.30% rose 6.50 points, or 0.3%, to close at 2,186.48.

Meanwhile, the Nasdaq Composite Index COM P, +0.50% rose 26.01 points, or 0.5% to a new closing high of 5,275.91.

The Russell 2000 index RUT, +0.12% briefly touched a 52-week high of 1,254.41 Tuesday, and closed up fractionally just above 1,253.

Share prices sometimes get a bounce to the upside when analysts inititate coverage.

Shares of Leidos Holdings Inc. (NYSE: LDOS) opened at $41.26 and traded in a range between, $40.91 and $41.58 yesterday, and last traded at $41.55, which represents a change of $ 0.35 over the previous closing price.

Leidos Holdings Inc. (NYSE: LDOS) currently has a market cap of 3.02B

The stocks average daily volume is 3,770,200 shares out of a total float 64,956,000 of and some 2,940,884 shares traded hands yesterday, 77 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

With that in mind Leidos Holdings Inc. (NYSE: LDOS) now has a 50-day MA is $45.97 and 200-day MA is $48.01, and it has traded in a 52-week range between $37.79 – 59.52 and today’s last price is -30.19 percent off the 52 week high.

Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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