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.
INDB was given price targets by several analysts. The most optimistic price target was 74, implying a possible profit of 3.35 percent. The lowest price target was 62, which equates to a potential downside of -13.41 percent. Some investors take price targets and stock ratings with a grain of salt, knowing that some analysts can have indirect business with the stocks they cover.
Over the past month, analysts have revised their estimates for this quarter's earnings, with a net average change of 3.48 percent. This can be compared with the average change in earnings estimates over the past 3 months, which is 1.2 percent. Over the past 30 days, FY earnings estimates have also changed upwards by 3.74 percent. 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 made positive revisions to their quarterly estimates over the past month, while 0 analysts made negative revisions. During this time, 1 analysts made positive revisions in their estimates for this fiscal year's earnings, while 0 analysts decreased their estimates.
Analysts estimate earnings of INDB to grow at a rate of 19.92 percent. Another measure frequently examined by investors is the PEG ratio. A lower PEG ratio is favorable, because that is often interpreted as the company being fairly priced relative to its growth rate. People often look for the PEG ratio to be under 1, but many choose to perform ratio comparisons with other companies in the industry. INDB has a PEG ratio of 1.23.
INDB has traded between a high of 73.15 and a low of 46.75 over the past year. The current market price is above the trailing year's low by 53.16 percent, 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.