Analysts at Zacks Investment Research upgraded shares of RBC Bearings Inc. (NASDAQ: ROLL) from Sell to Hold today. The company currently has a rating of Hold on the shares. As a means of comparison, a number of other analysts have spoken on the company in recent days, and RBC Bearings Inc. has secured a consensus one-year price target of $84.60, higher than the opening price of $74.90, a difference of 11.18 percent. RBC Bearings Inc. stock has a 52-week high of $87.82. Usually, after analysts assign an upgrade report on a stock, they will later issue sporadic revisions, often followed by a price target change.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday RBC Bearings Inc. (NASDAQ: ROLL) shares last traded at $75.66, which represents an increase of $1.15 compared to the previous closing price. Opening at $74.90, they varied from $74.51 and $75.73 throughout the day.
RBC Bearings Inc. (NASDAQ: ROLL) currently has a market cap of 1.76B.
The stock’s average daily volume is 102,923 shares out of a total float 22,602,000 and some 62,345 shares traded hands yesterday, below the norm. Investors often use upticks in trading volume to identify large volume accumulation or circulation 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 assert a trend. So market traders will continue to watch for institutional sponsorship as a cue 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.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for RBC Bearings Inc. (NASDAQ: ROLL) have ranged from $54.38 – 87.82, and the stock now has a 50-day MA of $77.29 and 200-day MA of $74.29. Today’s last price is 0.14% lower than the 52 week high of $87.82.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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