American Campus Communities Inc (NYSE: ACC) shares rose on Thursday February 2 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.
Analysts at Canaccord Genuity reiterated a Buy rating on shares of American Campus Communities Inc (NYSE: ACC) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. With a rating of Buy on the stock, American Campus Communities Inc has a 52-week high of $54.56. As a means of comparison, a number of other analysts have issued reports on the stock recently, and American Campus Communities Inc has earned a consensus one-year price target of $51.77, above the opening price of $47.40. Share prices often trend to the upside on recommendations and new price targets of professional analysts.
Yesterday American Campus Communities Inc (NYSE: ACC) shares last traded at $47.65, a spike of $0.44 compared to the previous closing price. Opening at $47.40, they ranged from $47.33 and $47.92 throughout the day.
American Campus Communities Inc (NYSE: ACC) now has a market cap of 6.29B.
American Campus Communities Inc (NYSE: ACC) Average Daily Trading Volume
The stock’s average daily volume is 853,081 shares out of a total float 131,386,000 and some 58,271 shares traded hands yesterday, 92 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.
While increased trading for one day will not mean much, however, 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 is defined by 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 it is good confirmation to see them buying a stock you are researching.
American Campus Communities Inc (NYSE: ACC) 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, American Campus Communities Inc (NYSE: ACC) now has a 50-day MA of $49.17 and 200-day MA of $49.58. It has traded in a 52-week range between $41.90 – 54.56 and today’s last price is 12.67%% lower than the 52 week high of $54.56.
Earnings growth is a crucial factor to research when buying stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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