Sovran Self Storage Inc. (NYSE: LSI) 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 Sovran Self Storage Inc. (NYSE: LSI) from Sell to Hold today. With a rating of Hold on the shares, Sovran Self Storage Inc. has a 52-week high of $118.18. 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 $92.08, above the opening price of $83.46, a difference of 10.98 percent. Usually, after analysts issue an upgrade report on a stock, they will later issue periodic revisions, usually followed by a price target change.
Sovran Self Storage Inc. (NYSE: LSI) shares last traded at $83.83, which represents an increase of $0.06 or 0.07% from the previous closing price. Opening at $83.46, they fluctuated from $83.31 and $84.10 throughout the day.
Sovran Self Storage Inc. (NYSE: LSI) now has a market cap of 3.87B.
Sovran Self Storage Inc. (NYSE: LSI) Average Daily Trading Volume
14,378 shares traded hands yesterday, lower than the norm, out of a total float 45,248,000. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to pinpoint large volume accumulation or circulation by institutional investors.
However, a single day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal 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 instituitional investors retain teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
Sovran Self Storage Inc. (NYSE: LSI) 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 successful trades.
With that in mind, Sovran Self Storage Inc. (NYSE: LSI) now has a 50-day MA of $81.88 and 200-day MA of $92.51. It has traded in a 52-week range between $77.00 – 118.18 and today’s last price is 29.07%% lower than the 52 week high of $118.18.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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