Upgrade Alert for Stonemor Partners (STON)
Stonemor Partners (NASDAQ:STON) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $9.36 on volume of 860,000 shares, above average daily volume of 294,000.
Over the past year, Stonemor Partners has traded in a range of $7.74 to $32.06 and closed yesterday at $9.36, 21% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.1%.
StoneMor Partners L.P. operates cemeteries in United States, primarily along the East Coast. The Company owns various cemeteries and operates others through management agreements. StoneMor sells burial lots, lawn and mausoleum crypts, cremation niches, and perpetual care.
Stonemor Partners has overhead space with shares priced $9.36, or 72.7% below the average consensus analyst price target of $34.25. The stock should find initial resistance at its 50-day moving average (MA) of $24.85 and further resistance at its 200-day MA of $27.12.
SmarTrend recommended that its subscribers protect gains by selling shares of Stonemor Partners on August 5th, 2016 by issuing a Downtrend alert when the shares were trading at $24.45. Since that call, shares of Stonemor Partners have fallen 64.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades stonemor partners