Roper Technologies, Inc. (NYSE: ROP) shares rose in value on Friday, January 13 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, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Analysts at J P Morgan Chase & Co upgraded shares of Roper Technologies, Inc. (NYSE: ROP) from Neutral to Overweight today. With a rating of Overweight on the stock, Roper Technologies, Inc. has a 52-week high of $190.01. A number of other analysts have issued reports on the stock recently, and Roper Technologies, Inc. has earned a consensus one-year price target of $205.00, above the opening price of $189.51. Share prices sometimes get a spike to the upside when analysts upgrade a stock.
Shares of Roper Technologies, Inc. (NYSE: ROP) opened at $189.51 yesterday and traded in a range between, $188.12 and $190.01, and last traded at $188.50, which is an increase of $0.84 compared to the previous closing price.
Roper Technologies, Inc. (NYSE: ROP) now has a market cap of 19.12B.
Roper Technologies, Inc. (NYSE: ROP) Average Daily Trading Volume
622,466 shares crossed the trading desk yesterday, 86 percent lower than the average, out of a total float 99,778,000. 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.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Roper Technologies, Inc. (NYSE: ROP) 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 traders to make those trends work in their favor and increase the number of successful trades.
Trades for Roper Technologies, Inc. (NYSE: ROP) have ranged from $155.79 – 190.01, and the stock now has a 50-day MA of $184.88 and 200-day MA of $177.27. Today’s last price is 0.79%% under the 52 week high of $190.01.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.