Zoe’s Kitchen Inc. (NYSE: ZOES) shares rose on Monday Dec 19 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.22% was trading up 37 points, or 0.2%, at 19,879, inching up to break the psychologically important 20,000 level.
The S&P 500 index SPX, +0.20% was up 6 points, or 0.3% at 2,264, with nine of the 11 main sectors trading higher.
The Nasdaq Composite Index COMP, +0.32% added 18 points, or 0.3% to 5,455.
Zoe’s Kitchen Inc. (NYSE: ZOES) had its price target boosted by equities researchers at Stifel Nicolaus from $22.00 to $25.00. Stifel Nicolaus currently has a rating of Hold on the stock. The one-year price target of $26.36 is lower than the opening price of $26.67, resulting a number of other analysts to comment on the stock recently. Looking back over the last year, Zoe’s Kitchen Inc. stock has a high of $41.76.
Zoe’s Kitchen Inc. (NYSE: ZOES) shares last traded at $26.77, which represents a spike of $0.12 or 0.44% over the previous closing price. Opening at $26.67, they fluctuated from $26.37 and $26.80 throughout the day.
Zoe’s Kitchen Inc. (NYSE: ZOES) currently has a market cap of 520.89M.
Zoe’s Kitchen Inc. (NYSE: ZOES) Average Daily Trading Volume
42,829 shares traded hands yesterday, below the norm, out of a total float 19,061,000. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to identify substantial 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 sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by 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 validation to see them taking a postion in a stock you’re considering.
Zoe’s Kitchen Inc. (NYSE: ZOES) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
Traders are able to make make well planned trades when they track the activity of professional investors.
With that in mind, Zoe’s Kitchen Inc. (NYSE: ZOES) now has a 50-day MA of $24.21 and 200-day MA of $29.42. It has traded in a 52-week range between $20.20 – 41.7600 and today’s last price is 35.90%% lower than the 52 week high of $41.76.
Earnings growth is an important factor to research when investing in stocks and investors seek companies that have grown their earnings by at least 25% over the past 3 years.
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