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.
A number of analysts gave price targets for INDB. The most optimistic price target was 74, which equates to a potential upside of 3.35 percent. The minimum price target given was 62, implying a possible loss of -13.41 percent. Many analysts are not unbiased in their coverage of stocks, including price targets and stock ratings, so care must be taken in interpreting numbers released by them.
Over the past month, analysts have revised their estimates for this quarter's earnings, with a net average change of 3.48 percent. The average change in earnings estimates over the last 90 days is 1.2 percent. Meanwhile, fiscal year estimates have been revised upwards by 3.74 percent, compared to last month. If we look at the last 90 days instead, we find a net average change of 1.2 percent in FY estimates.
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, 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, compared to 0 analysts that revised their FY estimates downwards.
INDB has an estimated earnings growth rate of 19.92 percent as forecasted by analysts. Another measure frequently examined by investors is the PEG ratio. Smaller PEG ratios are desirable, because people typically see that as an indicator of higher growth relative to stock price. Many investors consider PEG ratios between 0 and 1 as preferrable, even though it may be more relevant to compare the ratio to that of a firm's competitors. The PEG ratio of INDB is 1.23.
INDB has traded between a high of 73.15 and a low of 46.75 over the past year. 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 market cap of INDB is $1.95 billion. INDB will post this quarters earnings in days, on 0000-00-00.