AECOM (NYSE: ACM) shares rose in value Wednesday Jan 4 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks opened higher on Wednesday as banking stocks led the Dow Jones Industrial Average closer to the 20,000 milestone.
The Dow DJIA, +0.18% gained 25 points, or 0.1%, to 19,906. The S&P 500 SPX, +0.36% climbed four points, or 0.2%, to 2,262. The Nasdaq Composite Index COMP, +0.50% added 13 points, or 0.3%, to 5,447.
Analysts at Robert W. Baird upgraded shares of AECOM (NYSE: ACM) from Neutral to Outperform today. The company currently has a rating of Outperform on the shares. The one-year price target of $42.38 is higher than the opening price of $37.97, that has caused a number of other analysts to issue statements on the company in recent days. Looking back over the last 52 weeks, AECOM stock has a high of $40.72. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of AECOM (NYSE: ACM) opened at $37.97 on Tuesday trading between $37.85 and $38.46, and last traded at $38.10, a spike of $1.10 or 0.03 compared to the previous closing price.
AECOM (NYSE: ACM) currently has a market cap of 5.87B.
AECOM (NYSE: ACM) Average Daily Trading Volume
264,463 shares traded hands yesterday, lower than the average, out of a total float 152,449,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
AECOM (NYSE: ACM) 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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, AECOM (NYSE: ACM) now has a 50-day MA of $37.65 and 200-day MA of $32.67. It has traded in a 52-week range between $22.80 – 40.72 and today’s last price is 0.06% lower than the 52 week high of $40.72.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over the past 3 years.
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