Amphenol Corp. (NYSE: APH) shares rose on Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Amphenol Corp. (NYSE: APH) had its price target raised by equities researchers at RBC Capital Markets from $69.00 to $71.00. The company currently has a rating of Top Pick on the stock. A number of other analysts have commented on the company recently, and the company has secured a consensus one-year price target of $68.27, lower than the opening price of $68.65, a difference of 9.88 percent. Amphenol Corp. stock has a 52-week high of $69.19.
Shares of Amphenol Corp. (NYSE: APH) opened at $68.65 on Tuesday and has traded in a range between, $68.65 and $69.19, and last traded at $69.10, which is an increase of $0.67 or 0.98% from the previous closing price.
Amphenol Corp. (NYSE: APH) currently has a market cap of 21.32B.
Amphenol Corp. (NYSE: APH) Average Daily Trading Volume
The stock’s average daily volume is 1,379,460 shares out of a total float 306,920,000 and some 116,744 shares traded hands yesterday, below normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to determine heavy volume accumulation or dissemination by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
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 teams of analysts that research thousands of stocks, so it is good confirmation to see them buying a stock you are considering.
Amphenol Corp. (NYSE: APH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Amphenol Corp. (NYSE: APH) now has a 50-day MA of $66.00 and 200-day MA of $61.51. It has traded in a 52-week range between $44.50 – 69.19 and today’s last price is 0.13%% lower than the 52 week high of $69.19.
Earnings growth is a critical factor to look at when investing in stocks and investors identify companies that have increased their earnings by at least 25% over a 3 year period.
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