Monro Muffler Brake, Inc. (NASDAQ: MNRO) shares rose in value on Tuesday January 17 on lower 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 Zacks Investment Research upgraded shares of Monro Muffler Brake, Inc. (NASDAQ: MNRO) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the stock. The one-year price target of $75.68 is above the opening price of $58.65, resulting a fair amount of other analysts to comment on the company in recent days. Looking back over the last 52 weeks, Monro Muffler Brake, Inc. stock has a high of $73.86. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
Yesterday Monro Muffler Brake, Inc. (NASDAQ: MNRO) shares last traded at $60.00, a spike of $1.05 from the previous closing price. Opening at $58.65, they ranged from $58.65 and $60.70 throughout the day.
Monro Muffler Brake, Inc. (NASDAQ: MNRO) currently has a market cap of 1.94B.
Monro Muffler Brake, Inc. (NASDAQ: MNRO) Average Daily Trading Volume
90,168 shares traded hands yesterday, 9 percent lower than the norm, out of a total float 31,102,000. 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.
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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have 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.
Monro Muffler Brake, Inc. (NASDAQ: MNRO) 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 Monro Muffler Brake, Inc. (NASDAQ: MNRO) have ranged from $52.05 – 73.86, and the stock now has a 50-day MA of $57.91 and 200-day MA of $59.37. Today’s last price is 18.77%% lower than the 52 week high of $73.86.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more over the past 3 years.
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