Prestige Brands Holdings Inc. (NYSE: PBH) shares rose in value Thursday Dec 15 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Zacks Investment Research upgraded shares of Prestige Brands Holdings Inc. (NYSE: PBH) from Sell to Hold today. With a rating of Hold on the shares, Prestige Brands Holdings Inc. has a 52-week high of $58.08. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $57.00, above the opening price of $49.67. Share prices sometimes get a bounce to the upside when analysts upgrade a stock.
Prestige Brands Holdings Inc. (NYSE: PBH) shares last traded at $49.96, which represents a spike of $0.51 or 1.03% compared to the previous closing price. Opening at $49.67, they fluctuated from $49.51 and $49.99 throughout the day.
Prestige Brands Holdings Inc. (NYSE: PBH) currently has a market cap of 2.64B.
Prestige Brands Holdings Inc. (NYSE: PBH) Average Daily Trading Volume
The stock’s average daily volume is 363,317 shares out of a total float 52,741,000 and some 33,903 shares traded hands yesterday, lower than the norm. Swing traders often use increases in trading volume to determine heavy volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are researching.
Prestige Brands Holdings Inc. (NYSE: PBH) 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 spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Prestige Brands Holdings Inc. (NYSE: PBH) have ranged from $43.63 – 58.08, and the stock now has a 50-day MA of $47.78 and 200-day MA of $50.00. Today’s last price is 13.99%% below the 52 week high of $58.08.
Earnings growth is a critical factor to research when investing in stocks and investors seek companies that have increased their earnings by at least 25% for 3 consecutive years.
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