Lowe’s Cos. (NYSE: LOW) shares fell on Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at Wedbush reiterated a Neutral rating on shares of Lowe’s Cos. (NYSE: LOW) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. With a rating of Neutral on the shares, Lowe’s Cos. has a 52-week high of $83.65. The one-year price target of $79.20 is above the opening price of $70.75, resulting a number of other analysts to issue statements on the company recently. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Lowe’s Cos. (NYSE: LOW) shares last traded at $70.60, which represents a drop of $0.11 per share or -0.16% compared to the previous closing price. Opening at $70.75, they ranged from $70.56 and $71.03 throughout the day.
Lowe’s Cos. (NYSE: LOW) now has a market cap of 61.63B.
Lowe’s Cos. (NYSE: LOW) Average Daily Trading Volume
The stock’s average daily volume is 6,264,770 shares out of a total float 871,568,000 and some 411,424 shares crossed the trading desk yesterday, lower than the average. Swing traders often use increases in trading volume to determine large volume growth or circulation 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 determine a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Lowe’s Cos. (NYSE: LOW) 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.
Trades for Lowe’s Cos. (NYSE: LOW) have ranged from $62.62 – 83.65, and the stock now has a 50-day MA of $69.10 and 200-day MA of $75.55. Today’s last price is 15.60%% below the 52 week high of $83.65.
Earnings growth is an important factor to consider when investing in stocks and investors identify companies that have raised their earnings by at least 25% for 3 consecutive years.
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