Analysts at Wells Fargo & Co. upgraded shares of IAC/InterActive (NYSE: IAC) from Market Perform to Outperform today. With a rating of Outperform on the stock, IAC/InterActive has a 52-week high of $73.15. As a means of comparison, a number of other analysts have commented on the stock recently, and IAC/InterActive has earned a consensus one-year price target of $70.06, higher than the opening price of $59.18. Typically, after analysts give an upgrade report on a stock, they will subsequently issue sporadic revisions, often followed by a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of IAC/InterActive (NYSE: IAC) opened at $59.18 yesterday and traded in a range between, $59.10 and $60.73, and last traded at $60.60, which represents a jump of $2.40 from the previous closing price.
IAC/InterActive (NYSE: IAC) now has a market cap of 4.82B.
The stock’s average daily volume is 580,933 shares out of a total float 67,439,000 and some 734,697 shares traded hands yesterday, 14 percent above normal. Considerable volume aggregation by institutional investors may be on the horizon as the combination of large expansions in trading volume and price inflation can be determining components.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to indicate 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 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 investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, IAC/InterActive (NYSE: IAC) now has a 50-day MA of $58.57 and 200-day MA of $53.86. It has traded in a 52-week range between $38.82 – 73.15 and today’s last price is 0.17% lower than the 52 week high of $73.15.
Indeed, earnings growth is among the most critical 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 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.