Analysts at Goldman Sachs Group Inc. initiated coverage on Dollar General Corp. (NYSE: DG) stock, starting the company at Neutral and a price target of $84.00. As a means of comparison, a number of other analysts have commented on the shares recently, and the company has earned a consensus one-year price target of $87.05, $73.02. Dollar General Corp.stock has a 52-week high of $96.88.
U.S. stocks finished August with its second consecutive day of losses, albeit moderately. Volume for the day was less than stellar as traders readied themselves for a long holiday weekend.
The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,401.
The S&P 500 shed a little more than 5 points, or 0.24 percent, to close at 2,171.
The Nasdaq lost 10 points, or 0.19 percent, to finish at 5,213.
Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Dollar General Corp. (NYSE: DG) opened at $73.02 and traded in a range between, $72.55 and $73.50 yesterday, and last traded at $72.74, which represents a change of $ -0.58 over the previous closing price.
Dollar General Corp. (NYSE: DG) now has a market cap of 20.49B
The stocks average daily volume is 3,283,990 shares out of a total float 257,962,000 of and some 2,960,829 shares crossed the trading desk yesterday, 96 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Dollar General Corp. (NYSE: DG) now has a 50-day MA is $89.50 and 200-day MA is $86.25, and it has traded in a 52-week range between $59.75 – 96.88 and today’s last price is -24.92 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.
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