Agree Realty Corp. Surpasses Analyst Target, Investors Weigh Next Steps
In recent trading, shares of Agree Realty Corp. (Symbol: ADC) have exceeded the average analyst 12-month target price of $76.03, currently trading at $76.69 per share. When a stock reaches its target price, analysts typically face a decision: either downgrade on valuation or adjust their target price upwards. Their reactions often reflect the company’s underlying business developments, indicating whether the stock’s future might be even brighter.
There are 16 different analyst targets contributing to the average for Agree Realty Corp. within the Zacks coverage universe. While the average stands at $76.03, individual targets vary significantly. One analyst projects a price of $62.00, while another has set a high estimate at $84.00. The standard deviation across these estimates is $5.883.
The purpose of analyzing the average ADC price target is to leverage the collective insights of various analysts rather than relying solely on one opinion. With ADC now trading above this average target, investors are encouraged to reassess the company. They must decide if $76.03 is just a stepping stone towards a higher target, or if the stock’s current valuation calls for caution in taking profits. Below is a table outlining the current analyst ratings for Agree Realty Corp.
| Recent ADC Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 11 | 11 | 11 | 11 |
| Buy ratings: | 2 | 2 | 2 | 2 |
| Hold ratings: | 3 | 3 | 3 | 4 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.47 | 1.47 | 1.47 | 1.56 |
The average rating shown in the table uses a scale from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This article utilized data sourced from Zacks Investment Research via Quandl.com. For the latest Zacks research on ADC, visit their site.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
