Analysts at Barclays PLC upgraded shares of S&P Global Inc. (NYSE: SPGI) from Equal Weight to Overweight today. The company currently has a rating of Overweight on the stock. The one-year price target of $133.92 is higher than the opening price of $125.70, that has caused a fair amount of other analysts to comment on the stock in recent days. Looking back over the last 52 weeks, S&P Global Inc. stock has a high of $127.75. Typically, after analysts assign an upgrade report on a stock, they will subsequently issue other updates, such as 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 S&P Global Inc. (NYSE: SPGI) opened at $125.70 yesterday trading between $125.43 and $127.75, and last traded at $127.56, which represents an increase of $2.78 from the previous closing price.
S&P Global Inc. (NYSE: SPGI) now has a market cap of 33.68B.
964,386 shares traded hands yesterday, lower than the average, out of a total float 262,606,000. Momentum traders often use increases in trading volume to pinpoint heavy volume growth or circulation by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of significant buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial 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 traders to make those trends work in their favor and increase the number of successful trades.
Trades for S&P Global Inc. (NYSE: SPGI) have ranged from $78.55 – 127.75, and the stock now has a 50-day MA of $122.22 and 200-day MA of $109.88. Today’s last price is 0.00% below the 52 week high of $127.75.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors watch for companies that have grown their earnings at least 25% or more for the past 3 years.
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