LaSalle Hotel Properties (NYSE: LHO) shares slid back in value in early trading today on lighter 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 edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Raymond James Financial, Inc. upgraded shares of LaSalle Hotel Properties (NYSE: LHO) from Market Perform to Outperform today. Raymond James Financial, Inc. currently has a rating of Outperform on the stock. A number of other analysts have commented on the stock in recent days, and the company has secured a consensus one-year price target of $27.03, a decrease compared to the opening price of $30.25. LaSalle Hotel Properties stock has a 52-week high of $31.66. Usually, after analysts assign an upgrade report on a stock, they will subsequently issue periodic revisions, such as a price target change.
Yesterday LaSalle Hotel Properties (NYSE: LHO) shares last traded at $29.89, which is a drop of $0.09 over the previous closing price. Opening at $30.25, they ranged from $29.62 and $30.25 throughout the day.
LaSalle Hotel Properties (NYSE: LHO) now has a market cap of 3.38B.
LaSalle Hotel Properties (NYSE: LHO) Average Daily Trading Volume
The stock’s average daily volume is 1,744,160 shares out of a total float 112,706,000 and some 148,896 shares traded hands yesterday, 66 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as investors 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, conversely, 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 have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
LaSalle Hotel Properties (NYSE: LHO) 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 winning trades.
Trades for LaSalle Hotel Properties (NYSE: LHO) have ranged from $19.01 – 31.66, and the stock now has a 50-day MA of $29.55 and 200-day MA of $26.52. Today’s last price is 5.59%% under the 52 week high of $31.66.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% for a 3 year period.
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