Westinghouse Air Brake Technologies Corporation (NYSE: WAB) shares rose in value on Wednesday January 18 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 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 Westinghouse Air Brake Technologies Corporation (NYSE: WAB) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. The one-year price target of $89.60 is above the opening price of $87.03, resulting a fair amount of other analysts to issue statements on the company recently. Looking back over the last year, Westinghouse Air Brake Technologies Corporation stock has a high of $89.18. Usually, after analysts assign an upgrade report on a stock, they will subsequently issue recurring updates, often followed by a price target change.
Yesterday Westinghouse Air Brake Technologies Corporation (NYSE: WAB) shares last traded at $86.79, which is a jump of $0.04 compared to the previous closing price. Opening at $87.03, they ranged from $86.37 and $87.09 throughout the day.
Westinghouse Air Brake Technologies Corporation (NYSE: WAB) currently has a market cap of 7.73B.
Westinghouse Air Brake Technologies Corporation (NYSE: WAB) Average Daily Trading Volume
The stock’s average daily volume is 996,086 shares out of a total float 78,135,000 and some 127,064 shares traded hands yesterday, 5 percent below the average. 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.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship just refers to 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 ensure you are buying the right stocks.
Westinghouse Air Brake Technologies Corporation (NYSE: WAB) 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 traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Westinghouse Air Brake Technologies Corporation (NYSE: WAB) now has a 50-day MA of $84.09 and 200-day MA of $78.46. It has traded in a 52-week range between $60.28 – 89.18 and today’s last price is 2.68%% lower than the 52 week high of $89.18.
Earnings growth is an important factor to look at when investing in stocks and investors seek companies that have increased their earnings by at least 25% for 3 consecutive years.
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