Analysts at Zacks Investment Research downgraded shares of Stepan Co. (NYSE: SCL) from Buy to Hold in a research note to investors today. Zacks Investment Research currently has a rating of Hold on the stock. A number of other analysts have commented on the company in recent days, and Stepan Co. has secured a consensus one-year price target of $27.81, a decrease compared to the opening price of $70.57. Stepan Co. stock has a 52-week high of $72.54. considerable and integral changes in the company’s procedures, future direction or industry can cause downgrades as the analysts feel that the future prospects for the security have diminished from the original recommendation.
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 Stepan Co. (NYSE: SCL) shares last traded at $70.80, which represents an increase of $0.73 compared to the previous closing price. Opening at $70.57, they fluctuated from $69.69 and $71.11 throughout the day.
Stepan Co. (NYSE: SCL) now has a market cap of 1.58B.
82,979 shares crossed the trading desk yesterday, lower than the norm, out of a total float 19,072,000. Swing traders often use upticks in trading volume to determine heavy volume accumulation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
While increased trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional 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 tracking the activity of these professional investors and how they influence moving averages,it allows for traders to make more impactful decisions on trades.
Trades for Stepan Co. (NYSE: SCL) have ranged from $40.72 – 72.54, and the stock now has a 50-day MA of $69.32 and 200-day MA of $61.35. Today’s last price is 0.02% lower than the 52 week high of $72.54.
Earnings growth is a crucial factor to research 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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