Analyst Ratings for Independent Bank Corp. (INDB)Updated: 2017-07-27
Shares of Independent Bank Corp. (NASDAQ:INDB) have received a consensus rating of Hold from Wall Street analysts. INDB had previously received a consensus rating of Hold a month ago.
Of the 5 analysts covering the stock, 1 gave it a buy rating, 0 gave an overweight rating, 3 gave a hold rating, 1 gave an underweight rating, and 0 issued a sell rating. Over the past 90 days, the number of analysts that are bullish on the stock has increased by 1. During this time, the number of analysts bearish on the stock has increased by 0.
Many analysts weighed in on price targets for INDB. The maximum price target given was 74, which equates to a potential upside of 3.35 percent. The lowest price target was 62, which equates to a potential downside of -13.41 percent. One must be careful with overanalyzing price targets and ratings due to possible conflicts of interest among the analysts releasing them.
Over the past month, analysts have revised their estimates for this quarter's earnings, with a net average change of 3.48 percent. That number becomes 1.2 percent if we expand the time horizon to include the past 3 months instead of just one. On the other hand, earnings estimates for the fiscal year have been revised upwards by 3.74 percent, as compared to a month ago. Expanding the time horizon to 3 months, the average change in fiscal year estimates becomes 1.2 percent.
People are often interested in whether analysts were united in the direction of their revisions. 3 analysts have revised their quarterly estimates upwards in the past 30 days, which can be compared to the 0 analysts that decreased their estimates. Also over the last month, 1 analysts increased their estimates for the FY earnings, while 0 analysts decreased their estimates.
Analysts estimate earnings of INDB to grow at a rate of 19.92 percent. People on Wall Street often look at a company's PEG ratio. A lower PEG ratio is favorable, because that is often interpreted as the company being fairly priced relative to its growth rate. Wall Street investors typically prefer a PEG ratio to be smaller than 1, even though it may be more relevant to compare the ratio to that of a firm's competitors. INDB has a PEG ratio of 1.23.
In the last 52-weeks, INDB has achieved a high of 73.15 and a low of 46.75. Today's price is 53.16 percent above the 52-week low, and 2.12 percent lower than its 52-week high. INDB has a P/E ratio of 24.44. Investors typically compare the P/E ratio to a company's peers in the industry. The INDB value stock report compares INDB to some of its peers using value stock charts. The stock has a market capitalization of $1.95 billion. INDB will post this quarters earnings in days, on 0000-00-00.