Analysts at Zacks Investment Research upgraded shares of Quest Diagnostics Inc. (NYSE: DGX) from Hold to Buy today. The company currently has a rating of Buy on the stock. A number of other analysts have issued reports on the company recently, and the company has secured a consensus one-year price target of $82.89, less than the opening price of $83.24. Quest Diagnostics Inc. stock has a 52-week high of $86.85. Usually, after analysts assign an upgrade report on a stock, they will later issue recurring 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.
Yesterday Quest Diagnostics Inc. (NYSE: DGX) shares last traded at $84.86, which represents a jump of $1.76 from the previous closing price. Opening at $83.24, they ranged from $83.19 and $84.93 throughout the day.
Quest Diagnostics Inc. (NYSE: DGX) currently has a market cap of 11.80B.
The stock’s average daily volume is 1,196,330 shares out of a total float 138,551,000 and some 1,204,543 shares crossed the trading desk yesterday, higher than normal. Heavy volume aggregation by institutional investors may be on the horizon as the combination of significant increases in trading volume and price growth can be determining components.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Quest Diagnostics Inc. (NYSE: DGX) have ranged from $59.66 – 86.85, and the stock now has a 50-day MA of $84.08 and 200-day MA of $78.51. Today’s last price is 0.02% under the 52 week high of $86.85.
Earnings growth is a crucial factor to consider when buying stocks and investors seek companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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