Lamar Advertising Company (NASDAQ: LAMR) shares rose in value on Tuesday January 17 on slower 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 trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.
Analysts at Goldman Sachs Group, Inc. (The) upgraded shares of Lamar Advertising Company (NASDAQ: LAMR) from Neutral to Buy today. With a rating of Buy on the stock, Lamar Advertising Company has a 52-week high of $73.93. A number of other analysts have commented on the company recently, and the company has secured a consensus one-year price target of $69.00, less than the opening price of $73.26. Typically, after analysts publish an upgrade report on a stock, they will subsequently issue sporadic updates, such as a price target change.
Yesterday Lamar Advertising Company (NASDAQ: LAMR) shares last traded at $73.10, a jump of $0.75 compared to the previous closing price. Opening at $73.26, they ranged from $72.87 and $73.93 throughout the day.
Lamar Advertising Company (NASDAQ: LAMR) now has a market cap of 6,045.83B.
Lamar Advertising Company (NASDAQ: LAMR) Average Daily Trading Volume
The stock’s average daily volume is 679,665 shares out of a total float 82,278,000 and some 243,021 shares traded hands yesterday, 96 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings 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 professional investors have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Lamar Advertising Company (NASDAQ: LAMR) 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 successful trades.
Trades for Lamar Advertising Company (NASDAQ: LAMR) have ranged from $49.73 – 73.930, and the stock now has a 50-day MA of $67.06 and 200-day MA of $64.79. Today’s last price is 1.13%% below the 52 week high of $73.93.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings by at least 25% for 3 consecutive years.
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