Moody’s Corp. (NYSE: MCO) had its price target increased by equities researchers at Barclays PLC from $120.00 to $125.00. With a rating of Overweight on the shares, the company has a 52-week high of $110.83. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and the company has earned a consensus one-year price target of $109.10, above the opening price of $108.95.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Moody’s Corp. (NYSE: MCO) shares last traded at $109.46, an increase of $1.51 over the previous closing price. Opening at $108.95, they varied from $107.96 and $109.60 throughout the day.
Moody’s Corp. (NYSE: MCO) now has a market cap of 21.04B.
The stock’s average daily volume is 948,267 shares out of a total float 166,559,000 and some 954,559 shares crossed the trading desk yesterday, higher than the norm. Heavy volume aggregation by institutional investors may be on the horizon as the combination of large increases in trading volume and price growth can be deciding components.
However, a single day of high volume buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By tracking the activity of these professional investors and how they influence moving averages,it allows for traders to make more effective decisions on trades.
With that in mind, Moody’s Corp. (NYSE: MCO) now has a 50-day MA of $106.54 and 200-day MA of $99.67. It has traded in a 52-week range between $77.76 – 110.83 and today’s last price is 0.01% lower than the 52 week high of $110.83.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have increased their earnings by at least 25% over 3 consecutive years.
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