Primerica, Inc. (NYSE: PRI) shares rose 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, in early trading today the Dow Jones Industrial Average DJIA, +0.19% rose 40 points, or 0.2%, to 19,929 while the S&P 500 SPX, +0.31% added 5 points to 2,275, a rise of 0.2%. The Nasdaq Composite Index COMP, +0.53% climbed 19 points, or 0.3%, to 5,567.
Analysts at Zacks Investment Research upgraded shares of Primerica, Inc. (NYSE: PRI) from Hold to Buy today. With a rating of Buy on the stock, Primerica, Inc. has a 52-week high of $74.85. As a means of comparison, a number of other analysts have commented on the company in recent days, and the company has earned a consensus one-year price target of $77.00, higher than the opening price of $73.05. Share prices sometimes get a spike to the upside when analysts upgrade a stock.
Shares of Primerica, Inc. (NYSE: PRI) opened at $73.05 yesterday and traded in a range between, $73.05 and $74.85, and last traded at $74.45, which represents a jump of $1.85 compared to the previous closing price.
Primerica, Inc. (NYSE: PRI) currently has a market cap of 3.41B.
Primerica, Inc. (NYSE: PRI) Average Daily Trading Volume
The stock’s average daily volume is 520,427 shares out of a total float 38,631,000 and some 59,043 shares crossed the trading desk yesterday, 3 percent lower than the norm. 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.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are researching.
Primerica, Inc. (NYSE: PRI) 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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Primerica, Inc. (NYSE: PRI) have ranged from $37.09 – 74.85, and the stock now has a 50-day MA of $70.53 and 200-day MA of $59.94. Today’s last price is 0.53%% below the 52 week high of $74.85.
Earnings growth is a crucial factor to research when investing in stocks and investors identify companies that have raised their earnings at least 25% or more for the past 3 years.
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