Monsanto Company was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $116.60 to $123.59 in the past one-month time frame.
The stock was driven following a report stating that the US regulators will permit the German drugs and pesticides group to buy Monsanto worth $62.5 billion.
The company has seen two positive estimate revisions in the past month, while its Zacks Consensus Estimate for the current quarter has also moved higher over the said time period, suggesting that more solid trading could be ahead for Monsanto. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Monsanto currently has a Zacks Rank #4 (Sell), while its Earnings ESP is positive.
A better-ranked stock in the Agriculture - Products industry is The Andersons, Inc. (ANDE - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is MON going up? Or down? Predict to see what others think: Up or Down
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>