Polaris Industries Inc. (NYSE: PII) shares rose on Friday January 20 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, U.S. stocks rose Friday morning as Wall Street closely awaited Donald Trump’s inauguration as the nation’s 45th president.
The Dow Jones Industrial Average DJIA, +0.41% rose 95 points, or 0.5%, to 19,826, while the S&P 500 index SPX, +0.41% climbed 11 points, or 0.5%, to 2,275 and the Nasdaq Composite COMP, +0.37% added 28 points, or 0.6%, to 5,571.
Polaris Industries Inc. (NYSE: PII) had its price target increased by equities researchers at Wedbush from $71.00 to $75.00. With a rating of Neutral on the shares, Polaris Industries Inc. has a 52-week high of $104.25. The one-year price target of $83.31 is less than the opening price of $85.79, causing a number of other analysts to report on the company recently.
Shares of Polaris Industries Inc. (NYSE: PII) opened at $85.79 yesterday and traded in a range between, $85.26 and $86.41, and last traded at $86.12, which is a jump of $0.22 compared to the previous closing price.
Polaris Industries Inc. (NYSE: PII) currently has a market cap of 5.52B.
Polaris Industries Inc. (NYSE: PII) Average Daily Trading Volume
The stock’s average daily volume is 1,005,390 shares out of a total float 59,352,000 and some 90,980 shares crossed the trading desk yesterday, 83 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as momentum 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
Polaris Industries Inc. (NYSE: PII) 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.
With that in mind, Polaris Industries Inc. (NYSE: PII) now has a 50-day MA of $84.41 and 200-day MA of $84.30. It has traded in a 52-week range between $67.80 – 104.250 and today’s last price is 17.40%% lower than the 52 week high of $104.25.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more for a 3 year period.
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