Crane Co. (NYSE: CR) shares rose on Monday Dec 5 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.
The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.
Crane Co. (NYSE: CR) had its price target raised by equities researchers at Stifel Nicolaus from $69.00 to $79.00. Stifel Nicolaus currently has a rating of Buy on the shares. A number of other analysts have spoken on the company in recent days, and Crane Co. has earned a consensus one-year price target of $71.40, lower than the opening price of $75.92. Crane Co. stock has a 52-week high of $76.49.
Crane Co. (NYSE: CR) shares last traded at $75.80, a jump of $0.66 or 0.88% compared to the previous closing price. Opening at $75.92, they ranged from $75.61 and $76.49 throughout the day.
Crane Co. (NYSE: CR) now has a market cap of 4.45B.
Crane Co. (NYSE: CR) Average Daily Trading Volume
The stock’s average daily volume is 287,868 shares out of a total float 49,875,000 and some 30,090 shares traded hands yesterday, below the average. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to identify substantial volume aggregation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than 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.
These instituitional investors have substantial 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.
Crane Co. (NYSE: CR) 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.
Traders are able to make make smarter trades when they follow the trading habits of professional investors.
With that in mind, Crane Co. (NYSE: CR) now has a 50-day MA of $68.99 and 200-day MA of $62.62. It has traded in a 52-week range between $41.68 – 76.49 and today’s last price is 0.90%% lower than the 52 week high of $76.49.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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