Emerson Electric Company (NYSE: EMR) shares were down on Wednesday February 8 on lower 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 U.S. stocks traded modestly lower on Wednesday, as losses in energy shares following a drop in oil prices and a slide in financials weighed on the main indexes.
The S&P 500 index SPX, -0.17% declined 6 points, or 0.3%, to 2,286, with six of the main sectors trading lower. Energy and financials were leading the losses, down more than 1%.
The Dow Jones Industrial Average DJIA, -0.26% was down 65 points, or 0.3%, to 20,021, a day after the blue-chip index set an intraday high at 10,155.35. The Nasdaq Composite COMP, -0.13% retreated from an all-time high set on Tuesday, falling 23 points, or 0.4%, to 5,650.
Emerson Electric Company (NYSE: EMR) had its price target boosted by equities researchers at Barclays PLC from $0.00 to $63.00. The company currently has a rating of on the stock. As a means of comparison, a number of other analysts have issued reports on the stock in recent days, and the company has secured a consensus one-year price target of $55.71, lower than the opening price of $62.00. Emerson Electric Company stock has a 52-week high of $63.50.
Shares of Emerson Electric Company (NYSE: EMR) opened at $62.00 yesterday and traded in a range between, $61.67 and $62.19, and last traded at $61.79, which is a drop of $0.75 compared to the previous closing price.
Emerson Electric Company (NYSE: EMR) now has a market cap of 39.72B.
Emerson Electric Company (NYSE: EMR) Average Daily Trading Volume
954,056 shares crossed the trading desk yesterday, 68 percent lower than the average, out of a total float 639,087,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
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 research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Emerson Electric Company (NYSE: EMR) 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.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Emerson Electric Company (NYSE: EMR) now has a 50-day MA of $57.89 and 200-day MA of $54.44. It has traded in a 52-week range between $44.70 – 63.5000 and today’s last price is 2.69%% lower than the 52 week high of $63.50.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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