Analysts at Stifel Nicolaus upgraded shares of Tech Data Corp. (NASDAQ: TECD) from Hold to Buy today.Stifel Nicolaus currently has a rating of Buy on the shares. The one-year price target of $80.75 is a decrease compared to the opening price of $87.50, that has caused a fair amount of other analysts to comment on the stock recently. Looking back over the last year, Tech Data Corp. stock has a high of $87.54. Share prices often trend to the upside on recommendations and new price targets of professional brokerage firms.
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 Tech Data Corp. (NASDAQ: TECD) shares last traded at $86.66, which represents an increase of $1.86 from the previous closing price. Opening at $87.50, they fluctuated from $84.80 and $87.54 throughout the day.
Tech Data Corp. (NASDAQ: TECD) now has a market cap of 3.05B.
The stock’s average daily volume is 502,475 shares out of a total float 34,657,000 and some 806,188 shares crossed the trading desk yesterday, 26 percent above normal. Large increases in trading volume and price growth together could signal excessive volume accumulation by institutional investors.
However, just a day of high volume buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that investigate 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 investors to make those trends work in their favor and increase the number of successful trades.
Trades for Tech Data Corp. (NASDAQ: TECD) have ranged from $57.99 – 87.540, and the stock now has a 50-day MA of $76.34 and 200-day MA of $74.57. Today’s last price is 0.01% lower than the 52 week high of $87.54.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more over a 3 year period.
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