Analysts at Oppenheimer Holdings Inc. initiated coverage on Williams-Sonoma Inc. (NYSE: WSM) stock, starting the company at Outperform. Oppenheimer Holdings Inc. currently has a rating of Outperform on the stock. As a means of comparison, a number of other analysts have spoken on the company recently, and Williams-Sonoma Inc. has secured a consensus one-year price target of $57.95, higher than the opening price of $50.33, a difference of 11.66 percent. Williams-Sonoma Inc. stock has a 52-week high of $79.55. Changes in price targets are not unusual as analysts and brokerage firms will re periodic updates after initiating 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.
Yesterday Williams-Sonoma Inc. (NYSE: WSM) shares last traded at $49.70, which represents a decrease of $0.35 from the previous closing price. Opening at $50.33, they fluctuated from $49.58 and $50.85 throughout the day.
Williams-Sonoma Inc. (NYSE: WSM) currently has a market cap of 4.40B.
The stock’s average daily volume is 1,893,140 shares out of a total float 74,886,000 and some 1,236,682 shares traded hands yesterday, 40 percent lower than normal. Investors often use swings in trading volume to determine large volume aggregation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
As with all potential breakouts, investors watch 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 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 that research thousands of stocks. Thus, watching their interests is a good way to ensure 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 winning trades.
Trades for Williams-Sonoma Inc. (NYSE: WSM) have ranged from $47.33 – 79.55, and the stock now has a 50-day MA of $51.95 and 200-day MA of $54.13. Today’s last price is 0.38% under the 52 week high of $79.55.
Earnings growth is a critical factor to research when buying stocks and investors seek companies that have been successful at growing their earnings at least 25% or more 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.