Campbell Soup Co. (NYSE: CPB) shares traded mostly even in value Wednesday Nov 30 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
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.
Analysts at Zacks Investment Research upgraded shares of Campbell Soup Co. (NYSE: CPB) from Hold to Buy today. With a rating of Buy on the stock, Campbell Soup Co. has a 52-week high of $67.89. The one-year price target of $58.46 is higher than the opening price of $57.22, causing a number of other analysts to comment on the stock in recent days. Usually, after analysts assign an upgrade report on a stock, they will later issue sporadic revisions, usually followed by a price target change.
Campbell Soup Co. (NYSE: CPB) shares last traded at $57.65. Opening at $57.22, they varied from $57.15 and $57.75 throughout the day.
Campbell Soup Co. (NYSE: CPB) now has a market cap of 17.76B.
Campbell Soup Co. (NYSE: CPB) Average Daily Trading Volume
The stock’s average daily volume is 2,234,630 shares out of a total float 192,860,000 and some 163,223 shares traded hands yesterday, below normal. Investors often use upticks in trading volume to pinpoint substantial volume growth or circulation by institutional investors, so look for trading volume to pick up in the coming days.
While an increase in trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Campbell Soup Co. (NYSE: CPB) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Campbell Soup Co. (NYSE: CPB) now has a 50-day MA of $54.30 and 200-day MA of $59.17. It has traded in a 52-week range between $50.54 – 67.89 and today’s last price is 15.08%% lower than the 52 week high of $67.89.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings at least 25% or more over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.