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 highest price target was 74, which equates to a potential upside of 3.35 percent. The most pessimistic analyst gave a price target of 62, which equates to a potential downside 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. That number becomes 1.2 percent if we expand the time horizon to include the past 3 months instead of just one. 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.
Another thing investors often look at is the level of agreement among analysts' 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. During this time, 1 analysts made positive revisions in their estimates for this fiscal year's earnings, while 0 analysts made negative revisions to their fiscal year's 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, as that can indicate whether the high price level of a stock is warranted by high growth. People often look for the PEG ratio to be under 1, though it could be better to see where the ratio stands relative to peers 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. Today's price is 53.16 percent above the 52-week low, and below the high by 2.12 percent. INDB has a price/earnings 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.