Rogers Communication Inc. (NYSE: RCI) Upgraded at Zacks Investment Research

Analysts at Zacks Investment Research upgraded shares of Rogers Communication Inc. (NYSE: RCI) from Hold to Buy today. With a rating of Buy on the shares, Rogers Communication Inc. has a 52-week high of $45.50. The one-year price target of $43.07 is higher than the opening price of $42.45, that has caused a number of other analysts to report on the company in recent days. Share prices sometimes get a boost to the upside when analysts upgrade a stock.

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 Rogers Communication Inc. (NYSE: RCI) shares last traded at $42.55, an increase of $0.37 over the previous closing price. Opening at $42.45, they ranged from $41.85 and $42.60 throughout the day.

Rogers Communication Inc. (NYSE: RCI) now has a market cap of 21.90B.

The stock’s average daily volume is 262,509 shares out of a total float 369,644,000 and some 226,801 shares traded hands yesterday, lower than normal. Investors often use upticks in trading volume to determine large volume accumulation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.

As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show 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.

These professional investors retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.

Traders can make more useful judgments on trades when they track the trading habits of professional investors.

With that in mind, Rogers Communication Inc. (NYSE: RCI) now has a 50-day MA of $43.48 and 200-day MA of $40.52. It has traded in a 52-week range between $32.50 – 45.50 and today’s last price is 0.06% lower than the 52 week high of $45.50.

Earnings growth is an important factor to look at when buying stocks and investors seek companies that have been successful at growing their earnings by at least 25% for a 3 year period.

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