Analysts at Zacks Investment Research upgraded shares of Unilever (NYSE: UN) from Hold to Buy today. With a rating of Buy on the shares, Unilever has a 52-week high of $48.00. The one-year price target of $45.27 is a decrease compared to the opening price of $45.42, that has caused a fair amount of other analysts to comment on the stock recently. Usually, after analysts give an upgrade report on a stock, they will subsequently issue sporadic updates, usually followed by a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Unilever (NYSE: UN) opened at $45.42 yesterday and traded in a range between, $45.22 and $45.52, and last traded at $45.25, a drop of $0.13 compared to the previous closing price.
Unilever (NYSE: UN) now has a market cap of 128.46B.
The stock’s average daily volume is 1,931,490 shares out of a total float 2,837,096,000 and some 1,281,186 shares traded hands yesterday, 18 percent below the average. Momentum traders often use increases in trading volume to determine large volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
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 buying a stock you’re considering.
By tracking the activity of these professional investors and how they influence moving averages,it allows for traders to make more impactful decisions on trades.
With that in mind, Unilever (NYSE: UN) now has a 50-day MA of $46.12 and 200-day MA of $45.27. It has traded in a 52-week range between $37.92 – 48.00 and today’s last price is 0.06% lower than the 52 week high of $48.00.
Earnings growth is an important factor to consider when investing in stocks and investors identify companies that have grown their earnings at least 25% or more for 3 consecutive years.
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