Analysts at Jefferies Group reiterated a Buy rating on shares of Viacom Inc. (NASDAQ: VIAB) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the stock, Viacom Inc. has a 52-week high of $53.35. The one-year price target of $46.38 is higher than the opening price of $37.02, resulting a number of other analysts to issue statements on the stock in recent days. Stock prices sometimes get a boost to the upside when analysts reiterate coverage.
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 Viacom Inc. (NASDAQ: VIAB) opened at $37.02 yesterday trading between $36.12 and $37.27, and last traded at $36.16, which is a dip of $0.61 compared to the previous closing price.
Viacom Inc. (NASDAQ: VIAB) currently has a market cap of 14.34B.
4,010,015 shares traded hands yesterday, 37 percent higher than the average, out of a total float 355,229,000. Significant expansions in trading volume and price growth together could signal excessive volume accumulation by institutional investors.
However, one 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 cue 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 retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Viacom Inc. (NASDAQ: VIAB) have ranged from $30.11 – 53.35, and the stock now has a 50-day MA of $40.82 and 200-day MA of $41.51. Today’s last price is 0.32% under the 52 week high of $53.35.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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