Analysts at Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. (NYSE: APH) from Neutral to Buy today.With a rating of Buy on the stock, Amphenol Corp. has a 52-week high of $65.18. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and the company has earned a consensus one-year price target of $63.55, a decrease compared to the opening price of $65.10, a difference of 9.83 percent. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Yesterday Amphenol Corp. (NYSE: APH) shares last traded at $64.64, a jump of $0.88 over the previous closing price. Opening at $65.10, they ranged from $64.53 and $65.18 throughout the day.
Amphenol Corp. (NYSE: APH) currently has a market cap of 19.96B.
The stock’s average daily volume is 1,260,120 shares out of a total float 307,279,000 and some 708,846 shares crossed the trading desk yesterday, 120 percent below the norm. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to determine heavy volume aggregation or distribution by institutional investors.
However, just a day of heavy buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just 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. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Traders can make well planned trades when they follow the activity of professional investors.
Trades for Amphenol Corp. (NYSE: APH) have ranged from $44.50 – 65.18, and the stock now has a 50-day MA of $61.23 and 200-day MA of $58.45. Today’s last price is 0.01% under the 52 week high of $65.18.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more over a 3 year period.
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