Analysts at JPMorgan Chase & Co. upgraded shares of Monsanto Co. (NYSE: MON) from Neutral to Overweight today. With a rating of Overweight on the shares, the company has a 52-week high of $114.26. A number of other analysts have commented on the company in recent days, and the company has secured a consensus one-year price target of $115.87, higher than the opening price of $103.80. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
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 Monsanto Co. (NYSE: MON) opened at $103.80 yesterday and traded in a range between, $103.80 and $104.73, and last traded at $104.36, which represents an increase of $1.48 from the previous closing price.
Monsanto Co. (NYSE: MON) currently has a market cap of 45.67B.
The stock’s average daily volume is 4,267,880 shares out of a total float 436,367,000 and some 5,722,777 shares crossed the trading desk yesterday, higher than normal. Heavy volume aggregation by institutional investors may be on the horizon as the combination of large increases in trading volume and price growth can be indicative components.
While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you are researching.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Monsanto Co. (NYSE: MON) now has a 50-day MA of $105.82 and 200-day MA of $100.43. It has traded in a 52-week range between $81.22 – 114.26 and today’s last price is 0.09% lower than the 52 week high of $114.26.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% for the past 3 years.
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