Argus analysts reiterated its Buy rating on Weyerhaeuser Co. (NYSE: WY) in a note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the stock, Weyerhaeuser Co. has a 52-week high of $33.17. As a means of comparison, a number of other analysts have commented on the company recently, and the company has earned a consensus one-year price target of $34.96, above the opening price of $30.45, a difference of 11.67 percent. Share prices sometimes get a boost to the upside when analysts reiterate coverage.
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 Weyerhaeuser Co. (NYSE: WY) opened at $30.45 yesterday and traded in a range between, $29.96 and $30.51, and last traded at $29.96, a drop of $0.17 from the previous closing price.
Weyerhaeuser Co. (NYSE: WY) currently has a market cap of 22.43B.
The stock’s average daily volume is 4,355,690 shares out of a total float 740,076,000 and some 2,081,258 shares traded hands yesterday, lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify large volume accumulation or dissemination by institutional investors.
As with all possible breakouts, investors look 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that research thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re considering.
By tracking the activity of these professional investors and how they influence moving averages,it allows for traders to make more impactful judgments on trades.
With that in mind, Weyerhaeuser Co. (NYSE: WY) now has a 50-day MA of $31.50 and 200-day MA of $30.94. It has traded in a 52-week range between $22.06 – 33.17 and today’s last price is 0.10% lower than the 52 week high of $33.17.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings by at least 25% over 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.