Analysts at Zacks Investment Research downgraded shares of Worthington Industries Inc. (NYSE: WOR) from Buy to Hold in a research note to investors today. The company currently has a rating of Hold on the shares. A number of other analysts have commented on the company recently, and Worthington Industries Inc. has secured a consensus one-year price target of $32.87, a decrease compared to the opening price of $41.28. Worthington Industries Inc. stock has a 52-week high of $45.68. Material and major digressions in the company’s operations, future ision or industry can cause downgrades as the analysts consider that the future prospects for the security have weakened from the original recommendation.
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 Worthington Industries Inc. (NYSE: WOR) shares last traded at $41.27, which is an increase of $0.21 compared to the previous closing price. Opening at $41.28, they varied from $40.82 and $41.65 throughout the day.
Worthington Industries Inc. (NYSE: WOR) now has a market cap of 2.64B.
350,580 shares crossed the trading desk yesterday, 30 percent lower than the norm, out of a total float 44,839,000. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify large volume accumulation or circulation by institutional investors.
While increased trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Traders are able to make make more impactful decisions on trades when they follow the trading habits of professional investors.
Trades for Worthington Industries Inc. (NYSE: WOR) have ranged from $21.10 – 45.68, and the stock now has a 50-day MA of $42.49 and 200-day MA of $39.40. Today’s last price is 0.10% below the 52 week high of $45.68.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more for a 3 year period.
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