American Tower Corp. (NYSE: AMT) shares rose in value Friday Oct 14 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks closed slightly higher on Friday , but suffered it second straight losing week overall.
The Dow Jones Industrial Average DJIA, +0.22% closed up 39.44 points, or 0.2%, at 18,138.38, for a 0.6% loss on the week.
The S&P 500 index SPX, +0.02% advanced 0.43 points to finish at 2,132.98, for a 1% decline on the week.
The Nasdaq Composite index COMP, +0.02% finished up 0.83 points at 5,214.16, for a 1.5% decline on the week.
Analysts at Zacks Investment Research upgraded shares of American Tower Corp. (NYSE: AMT) from Hold to Buy today. The company currently has a rating of Buy on the shares. A number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $130.00, above the opening price of $112.97. American Tower Corp. stock has a 52-week high of $118.26. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
Shares of American Tower Corp. (NYSE: AMT) opened at $112.97 yesterday trading between $112.71 and $114.59, and last traded at $113.35, which represents a jump of $0.65 or 0.01 compared to the previous closing price.
American Tower Corp. (NYSE: AMT) now has a market cap of 48.23B.
American Tower Corp.Trading Volume
2,254,770 shares crossed the trading desk yesterday, higher than the norm, out of a total float 424,842,000. Large gains in trading volume and price growth together could signal excessive volume aggregation by institutional investors.
However, one day of significant buy side trading is not enough to determine a trend. As such, market traders will continue to watch for institutional sponsorship as an indicator 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.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are considering.
American Tower Corp. 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 influence— traders can make educated trades.
Trades for American Tower Corp. (NYSE: AMT) have ranged from $83.07 – 118.26, and the stock now has a 50-day MA of $111.69 and 200-day MA of $110.19. Today’s last price is 0.04% under the 52 week high of $118.26.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more over 3 consecutive years.
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