Torchmark Corp. (NYSE: TMK) shares were down on Monday January 23 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 flipped between small gains and losses in early trade on Monday.
The Dow Jones Industrial Average DJIA, -0.14% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.99% and General Electric CoGE, -0.95% leading the losses, down more than 1%.
The S&P 500 SPX, -0.18% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.09% gained 4 points to 5,558.
Torchmark Corp. (NYSE: TMK) had its price target raised by equities researchers at Deutsche Bank from $0.00 to $69.00. The company currently has a rating of on the stock. A number of other analysts have commented on the company in recent days, and Torchmark Corp. has secured a consensus one-year price target of $69.80, lower than the opening price of $73.86. Torchmark Corp. stock has a 52-week high of $75.07.
Yesterday Torchmark Corp. (NYSE: TMK) shares last traded at $73.81, which represents a dip of $0.18 from the previous closing price. Opening at $73.86, they fluctuated from $73.73 and $74.06 throughout the day.
Torchmark Corp. (NYSE: TMK) currently has a market cap of 8.76B.
Torchmark Corp. (NYSE: TMK) Average Daily Trading Volume
The stock’s average daily volume is 523,389 shares out of a total float 110,146,000 and some 15,932 shares crossed the trading desk yesterday, 65 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as investors 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 simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.
Torchmark Corp. (NYSE: TMK) 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 Torchmark Corp. (NYSE: TMK) have ranged from $48.47 – 75.07, and the stock now has a 50-day MA of $73.70 and 200-day MA of $66.49. Today’s last price is 1.68%% below the 52 week high of $75.07.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more over a 3 year period.
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