Analysts at Zacks Investment Research upgraded shares of PTC Inc. (NASDAQ: PTC) from Sell to Hold today. With a rating of Hold on the shares, PTC Inc. has a 52-week high of $43.96. The one-year price target of $47.45 is above the opening price of $43.54, causing a number of other analysts to report on the stock in recent days. 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.
Shares of PTC Inc. (NASDAQ: PTC) opened at $43.54 yesterday and traded in a range between, $43.32 and $43.80, and last traded at $43.33, which is a decrease of $0.06 over the previous closing price.
PTC Inc. (NASDAQ: PTC) currently has a market cap of 4.98B.
The stock’s average daily volume is 940,534 shares out of a total float 113,882,000 and some 412,852 shares crossed the trading desk yesterday, 64 percent below normal. Swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
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, PTC Inc. (NASDAQ: PTC) now has a 50-day MA of $42.29 and 200-day MA of $37.47. It has traded in a 52-week range between $27.06 – 43.96 and today’s last price is 0.01% lower than the 52 week high of $43.96.
Earnings growth is a crucial factor to consider when investing in stocks and investors watch for companies that have been successful at growing their earnings by at least 25% for a 3 year period.
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.