• Return to Headlines

Upgrade Alert for Tanger Factory Outlet Centers (SKT)

By James Quinn

Tanger Factory Outlet Centers (NYSE:SKT) was upgraded from Neutral to Buy at Hilliard Lyons today. The stock closed yesterday at $34.03 on volume of 731,000 shares, above average daily volume of 700,000.

Tanger Factory Outlet Centers (NYSE:SKT) has potential upside of 11.7% based on a current price of $34.03 and analysts' consensus price target of $38.00. Tanger Factory Outlet Centers shares should encounter resistance at the 50-day moving average (MA) of $35.40 and support at its 200-day MA of $33.56.

Tanger Factory Outlet Centers share prices have moved between a 52-week high of $42.20 and a 52-week low of $29.45 and closed yesterday at 16% above that low price at $34.03 per share. The 200-day and 50-day moving averages have moved 0.18% higher and 0.89% higher over the past week, respectively.

Tanger Factory Outlet Centers, Inc. is a real estate investment trust that owns and operates factory outlet centers. These centers house a variety of brand name and designer fashion outlet stores. Customer amenities such as common areas, reading materials, and children's play areas are available in Tanger's outlets, which are located coast to coast throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Tanger Factory Outlet Centers on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $39.64. Since that call, shares of Tanger Factory Outlet Centers have fallen 16.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades tanger factory outlet centers

Ticker(s): SKT