Shares of Sovran Self Storage Inc. (NYSE: LSI) were downgraded by analysts at Zacks Investment Research in a note to their investors today. The company currently has a rating of Sell on the shares. As a means of comparison, a number of other analysts have commented on the stock recently, and Sovran Self Storage Inc. has earned a consensus one-year price target of $102.50, above the opening price of $90.19, a difference of 11.22 percent. Sovran Self Storage Inc. stock has a 52-week high of $118.18. Material and fundamental changes in the company’s procedures, future outlook or industry can cause downgrades as the analysts consider that the future prospects for the security have diminished from the original recommendation.
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 Sovran Self Storage Inc. (NYSE: LSI) shares last traded at $91.33, an increase of $0.95 from the previous closing price. Opening at $90.19, they varied from $88.61 and $91.38 throughout the day.
Sovran Self Storage Inc. (NYSE: LSI) now has a market cap of 3.83B.
682,988 shares traded hands yesterday, higher than normal, out of a total float 41,251,000. Considerable volume aggregation by institutional investors may be on the horizon as the combination of substantial expansions in trading volume and price inflation can be deciding components.
However, one day of heavy buy side trading is not enough to assert 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 substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are researching.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Sovran Self Storage Inc. (NYSE: LSI) have ranged from $86.45 – 118.18, and the stock now has a 50-day MA of $91.04 and 200-day MA of $104.37. Today’s last price is 0.23% below the 52 week high of $118.18.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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