USG Corporation (NYSE: USG) shares rose in value on Wednesday January 18 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 trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Analysts at Zacks Investment Research upgraded shares of USG Corporation (NYSE: USG) from Sell to Hold today. With a rating of Hold on the stock, USG Corporation has a 52-week high of $32.26. As a means of comparison, a number of other analysts have commented on the company recently, and USG Corporation has earned a consensus one-year price target of $31.13, above the opening price of $28.51. Typically, after analysts issue an upgrade report on a stock, they will later issue periodic updates, such as a price target change.
Yesterday USG Corporation (NYSE: USG) shares last traded at $28.68, which is an increase of $0.15 over the previous closing price. Opening at $28.51, they ranged from $28.38 and $28.79 throughout the day.
USG Corporation (NYSE: USG) now has a market cap of 4.19B.
USG Corporation (NYSE: USG) Average Daily Trading Volume
The stock’s average daily volume is 1,666,960 shares out of a total float 91,333,000 and some 92,600 shares traded hands yesterday, 104 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
USG Corporation (NYSE: USG) 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 USG Corporation (NYSE: USG) have ranged from $15.85 – 32.26, and the stock now has a 50-day MA of $29.61 and 200-day MA of $27.75. Today’s last price is 11.10%% under the 52 week high of $32.26.
Earnings growth is a crucial factor to look at when investing in stocks and investors watch for companies that have increased their earnings by at least 25% over a 3 year period.
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