Analysts at Scotia Howard Weill initiated coverage on Atwood Oceanics Inc. (NYSE: ATW) stock, rating the company at Sector Perform. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $10.19, $6.85. Atwood Oceanics Inc.stock has a 52-week high of $19.65.After initiating coverage,, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.
Stocks closed in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.
The Dow Jones Industrial Average DJIA, -0.18% slid 31.98 points, or 0.2%, to close at 18,034.77
The S&P 500 index SPX, -0.06% fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector.
The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.
Typically, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.
Shares of Atwood Oceanics Inc. (NYSE: ATW) opened at $6.85 today and traded in a range between, $6.84 and $7.39, and last traded at $6.91, which represents a change of $ -0.28 over the previous closing price.
Atwood Oceanics Inc. (NYSE: ATW) now has a market cap of 447.77M
The stocks average daily volume is 4,027,610 shares out of a total float 60,277,000 of and some 3,387,131 shares traded hands yesterday, 80 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply 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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind Atwood Oceanics Inc. (NYSE: ATW) now has a 50-day MA is $9.04 and 200-day MA is $10.02, and it has traded in a 52-week range between $4.82 – 19.65 and today’s last price is -64.83 percent off the 52 week high.
Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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