Analysts at Zacks Investment Research upgraded shares of TopBuild Corp. (NYSE: BLD) from Sell to Hold today. The company currently has a rating of Hold on the stock. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $4.00, a decrease compared to the opening price of $32.83. TopBuild Corp. stock has a 52-week high of $38.94. Usually, after analysts publish an upgrade report on a stock, they will later issue periodic updates, usually followed by a price target change.
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 TopBuild Corp. (NYSE: BLD) shares last traded at $32.93, which is an increase of $0.37 from the previous closing price. Opening at $32.83, they fluctuated from $32.16 and $32.97 throughout the day.
TopBuild Corp. (NYSE: BLD) currently has a market cap of 1.27B.
The stock’s average daily volume is 343,269 shares out of a total float 35,279,000 and some 213,916 shares traded hands yesterday, below the norm. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify substantial volume growth or dissemination by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for TopBuild Corp. (NYSE: BLD) have ranged from $23.02 – 38.94, and the stock now has a 50-day MA of $34.04 and 200-day MA of $33.83. Today’s last price is 0.15% under the 52 week high of $38.94.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings at least 25% or more for the past 3 years.
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