SuperValu (SVU) : Traders are bullish on SuperValu (SVU) as it has outperformed the S&P 500 by a wide margin of 3.24% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.23%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.2% in the last 1 week, and is up 3.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
SUPERVALU Inc. is up 15.35% in the last 3-month period. Year-to-Date the stock performance stands at -20.21%. The stock has recorded a 20-day Moving Average of 8.42% and the 50-Day Moving Average is 10.38%.
SuperValu (NYSE:SVU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.36 and $5.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.41, notching a gain of 0.37% for the day. The total traded volume was 3,033,321 . The stock had closed at $5.39 on the previous day.
Also, Morgan Stanley maintains its rating on SuperValu (NYSE:SVU). The global brokerage major lowers the current price target from $5.5 per share to $5 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on July 28, 2016.
SUPERVALU INC. (SUPERVALU) is a wholesale distributor to independent retail customers across the United States. The Company leverages its distribution operations by providing wholesale distribution and logistics service solutions to independent retail customers and Save-A-Lot licensees, as well as wholesale distribution to its Retail Food and Save-A-Lot stores. It operates in three segments: Independent Business, which is engaged in wholesale distribution and logistics service solutions to independently owned retail stores and other customers (collectively referred to as independent retail customers); Save-A-Lot, which is engaged in the sale of groceries at retail locations operated by the Company and from stores licensed by the Company, to which it provides wholesale distribution, and Retail Food, which is engaged in the sale of groceries and other products at retail locations operated by the Company.