Analysts at Argus reiterated a Buy rating on shares of Weyerhaeuser Co. (NYSE: WY) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. The company currently has a rating of Buy on the shares. A number of other analysts have commented on the company recently, and Weyerhaeuser Co. has secured a consensus one-year price target of $34.96, above the opening price of $30.45, a difference of 11.56 percent. Weyerhaeuser Co. stock has a 52-week high of $33.17. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
U.S. stocks on Monday closed essentially 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 index 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 Weyerhaeuser Co. (NYSE: WY) shares last traded at $30.24, a jump of $0.11 compared to the previous closing price. Opening at $30.45, they fluctuated from $30.20 and $30.51 throughout the day.
Weyerhaeuser Co. (NYSE: WY) currently has a market cap of 22.64B.
The stock’s average daily volume is 4,411,430 shares out of a total float 740,076,000 and some 263,117 shares traded hands yesterday, 20 percent lower than normal. Swing traders often use swings in trading volume to determine large volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.
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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. So 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 Weyerhaeuser Co. (NYSE: WY) have ranged from $22.06 – 33.170, and the stock now has a 50-day MA of $31.58 and 200-day MA of $30.92. Today’s last price is 0.09% lower than the 52 week high of $33.17.
Earnings growth is an important factor to consider when buying stocks and investors watch for companies that have increased their earnings by at least 25% for the past 3 years.
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