Vectren Corp. (NYSE: VVC) Stock Upgraded at Zacks Investment Research

Analysts at Zacks Investment Research upgraded shares of Vectren Corp. (NYSE: VVC) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the stock. A number of other analysts have commented on the company recently, and Vectren Corp. has earned a consensus one-year price target of $51.67, higher than the opening price of $50.23. Vectren Corp. stock has a 52-week high of $53.33. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.

U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.

The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.

The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.

The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.

Shares of Vectren Corp. (NYSE: VVC) opened at $50.23 yesterday and traded in a range between, $50.16 and $50.67, and last traded at $50.17, which represents a jump of $0.11 from the previous closing price.

Vectren Corp. (NYSE: VVC) now has a market cap of 4.16B.

The stock’s average daily volume is 372,556 shares out of a total float 82,661,000 and some 219,608 shares crossed the trading desk yesterday, 53 percent below the norm. Swing traders often use increases in trading volume to determine heavy volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

Trades for Vectren Corp. (NYSE: VVC) have ranged from $39.43 – 53.33, and the stock now has a 50-day MA of $49.87 and 200-day MA of $50.19. Today’s last price is 0.06% below the 52 week high of $53.33.

Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Leave a Reply

Your email address will not be published. Required fields are marked *