Analysts at Zacks Investment Research upgraded shares of Hill-Rom Holdings Inc. (NYSE: HRC) from Hold to Buy today. With a rating of Buy on the stock, Hill-Rom Holdings Inc. has a 52-week high of $60.48. The one-year price target of $65.25 is higher than the opening price of $59.54, causing a fair amount of other analysts to report on the stock in recent days. Typically, after analysts publish an upgrade report on a stock, they will later issue periodic updates, often followed by a price target change.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Hill-Rom Holdings Inc. (NYSE: HRC) opened at $59.54 yesterday trading between $58.77 and $59.86, and last traded at $59.75, which represents an increase of $0.52 compared to the previous closing price.
Hill-Rom Holdings Inc. (NYSE: HRC) now has a market cap of 3.91B.
249,493 shares traded hands yesterday, lower than the average, out of a total float 59,337,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to pinpoint substantial volume aggregation or circulation by institutional investors.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you’re researching.
Traders are able to make make educated trades when they track the activity of professional investors.
With that in mind, Hill-Rom Holdings Inc. (NYSE: HRC) now has a 50-day MA of $58.36 and 200-day MA of $52.27. It has traded in a 52-week range between $42.99 – 60.48 and today’s last price is 0.01% lower than the 52 week high of $60.48.
Earnings growth is a critical factor to look at when investing in stocks and investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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