Analysts at Zacks Investment Research downgraded shares of Colgate-Palmolive Co. (NYSE: CL) from Buy to Hold in a research note to investors today. The company currently has a rating of Hold on the shares. The one-year price target of $76.56 is higher than the opening price of $72.66, resulting a number of other analysts to comment on the company in recent days. Looking back over the last 52 weeks, Colgate-Palmolive Co. stock has a high of $75.38. Material and major changes in the company’s actions, future outlook or industry can cause downgrades as the analysts feel that the future prospects for the security have weakened from the initial 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.
Shares of Colgate-Palmolive Co. (NYSE: CL) opened at $72.66 yesterday and traded in a range between, $72.46 and $72.90, and last traded at $72.48, which is a jump of $0.29 compared to the previous closing price.
Colgate-Palmolive Co. (NYSE: CL) now has a market cap of 64.62B.
The stock’s average daily volume is 3,008,340 shares out of a total float 861,743,000 and some 2,438,173 shares traded hands yesterday, 67 percent below normal. Momentum traders often use swings in trading volume to pinpoint substantial volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
However, a single day of significant buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they influence— traders are able to make make educated trades.
With that in mind, Colgate-Palmolive Co. (NYSE: CL) now has a 50-day MA of $73.95 and 200-day MA of $72.09. It has traded in a 52-week range between $61.40 – 75.38 and today’s last price is 0.04% lower than the 52 week high of $75.38.
Earnings growth is a crucial factor to look at when investing in stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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