Analysts at Zacks Investment Research upgraded shares of S&P Global Inc. (NYSE: SPGI) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have spoken on the company in recent days, and the company has secured a consensus one-year price target of $133.92, higher than the opening price of $125.70. S&P Global Inc. stock has a 52-week high of $127.75. Stock prices sometimes get a bounce 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.
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, a jump of $2.78 compared to the previous closing price.
S&P Global Inc. (NYSE: SPGI) currently has a market cap of 33.68B.
964,386 shares crossed the trading desk yesterday, below normal, out of a total float 262,606,000. Trading volume is likely to increase in the next few days as investors often use upticks in trading volume to pinpoint substantial volume growth or circulation by institutional investors.
While higher 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 expresses a positive signal to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship just refers to 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 it is good confirmation to see them buying a stock you are considering.
By marking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more useful judgments on 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% under the 52 week high of $127.75.
Earnings growth is a critical factor to research when buying stocks and investors identify companies that have grown their earnings by at least 25% over a 3 year period.
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