Analysts at Goldman Sachs Group Inc. initiated coverage on Five Below Inc. (NASDAQ: FIVE) stock, starting the company at Neutral and a price target of $42.00. As a means of comparison, a number of other analysts have commented on the company recently, and the company has earned a consensus one-year price target of $50.00, $43.60. Five Below Inc.stock has a 52-week high of $52.70.
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 analysts.
Shares of Five Below Inc. (NASDAQ: FIVE) opened at $43.60 and traded in a range between, $43.02 and $43.79 yesterday, and last traded at $43.54, which represents a change of $ 0.14 over the previous closing price.
Five Below Inc. (NASDAQ: FIVE) currently has a market cap of 2.39B
The stocks average daily volume is 927,727 shares out of a total float 53,470,000 of and some 874,359 shares traded hands yesterday, 75 percent lower than normal. Look for trading volume to pick up in the coming days as momentum 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 spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind Five Below Inc. (NASDAQ: FIVE) now has a 50-day MA is $48.60 and 200-day MA is $43.19, and it has traded in a 52-week range between $26.95 – 52.70 and today’s last price is -17.38 percent off the 52 week high.
Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.