Analysts at Citigroup Inc. initiated coverage on Delek US Holdings Inc. (NYSE: DK) stock, rating the company at Buy. As a means of comparison, a number of other analysts have commented on the company recently, and the company has earned a consensus one-year price target of $18.43, lower than the opening price of $18.46. Delek US Holdings Inc.stock has a 52-week high of $30.84.After beginning or 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.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of Delek US Holdings Inc. (NYSE: DK) opened at $18.46 today and traded in a range between, $17.49 and $18.53, and last traded at $17.84, which represents a change of $ -0.25 over the previous closing price.
Delek US Holdings Inc. (NYSE: DK) currently has a market cap of 1.10B
The stocks average daily volume is 1,235,990 shares out of a total float 50,923,000 of and some 1,491,913 shares traded hands yesterday, 83 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for short periods will not mean much 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Delek US Holdings Inc. (NYSE: DK) now has a 50-day MA is $15.92 and 200-day MA is $14.66, and it has traded in a 52-week range between $11.41 – 30.84 and today’s last price is -42.15 percent off the 52 week high.
Earnings growth is an important factor to look at when buying 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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