Northern Trust Corporation (NTRS): Is It Time To Start A Correction

The stock of Northern Trust Corporation (NASDAQ:NTRS) has been Downgraded to Sell from Neutral by Citigroup in its latest research note that was published on July 12. NTRS was given a price target of $85 by Citigroup, with other Wall Street analysts also giving their reports regarding the stock. Deutsche Bank analysts have downgraded their rating of NTRS stock from Buy to Hold in a separate flash note to investors on June 18. Analysts at BofA/Merrill are sticking to their Neutral recommendation. However, on June 06, they lifted target price for these shares to $97 from $107.Analysts at BofA/Merrill, made their first call for the stock with a Neutral rating, according to a research note that dated back to June 06.

Northern Trust Corporation, which has current market capitalization of above $21 Billion, published its last quarter earnings on June 30, 2019.

NTRS surged by $0.31 during the normal trading session on Thursday and reaching a high of $97.68 during the day while it closed the day at $97.56. The Northern stock had a low trading volume of 1.08 million shares on that day, which is low compared to the average daily volume of 1.20M shares. NTRS has also gained 8.38% of its value over the past 7 days. However, the stock has surged by 11.83% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.25% while it has added 16.71% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -2.89% from its 3 months high price. However, taking another look at NTRS will indicate that it is trading +16.21% away from its 90-day low. Looking at the bigger picture, the Northern Trust Corporation stock has dropped by -9.2% from its 52-week high while it has surged by +28.44% from its 52-week low price.

On August 02, 2019 Bowman Biff, EVP & CFO sold 46204 shares of the company. The average price for that transaction was $92.81 per share, which meant that Bowman Biff earned $4288193 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with EVP & Chief Investment Officer, BROWNE ROBERT P selling 31595 shares of this stock on July 29, 2019. The average selling price for the stock was $99.47 per share, with the sold stock accruing $3142755. Following this transaction, the EVP & Chief Investment Officer BROWNE ROBERT P now holds 58759 shares of the company, which is worth around $5721364.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 82.43%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 99.13%. Over the past 20 days, Northern’s Stochastic %K stood at 97.39% while its Stochastic %D was revealed to be 95.04%.