City Holding Co. Shares Exceed Analyst Target Price as Investors Evaluate Options
In recent trading, shares of City Holding Co. (Symbol: CHCO) have surpassed the average analyst 12-month target price of $122.33, currently trading at $123.42 per share. When a stock reaches an analyst-set target, the analyst has two potential responses: either to downgrade the stock due to valuation concerns or to increase their target price. The analyst’s reaction may also hinge on recent fundamental business developments that could drive the stock price higher. If conditions appear favorable for the company, adjusting the target price upward may be warranted.
Within the Zacks coverage universe, there are six different analyst targets contributing to the average price for City Holding Co. However, the average price represents a mathematical calculation and includes a range of opinions. For example, one analyst projects a price of $106.00, while another forecasts as high as $128.00. The standard deviation of the targets is $8.091, indicating some variability in expectations.
The purpose of examining the average CHCO price target is to leverage the “wisdom of crowds,” consolidating input from multiple analysts rather than relying on a single expert viewpoint. With CHCO now above the average target price of $122.33 per share, investors are prompted to assess whether this is a stepping stone to an even higher target or if the valuation has become stretched, necessitating a reevaluation of their positions. Below is a table detailing the current ratings from analysts covering City Holding Co.:
| Recent CHCO Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 0 | 0 | 0 | 0 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 6 | 6 | 6 | 6 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 3.0 | 3.0 | 3.0 | 3.0 |
The average rating in the table ranges from 1 (Strong Buy) to 5 (Strong Sell). The data used in this analysis is sourced from Zacks Investment Research via Quandl.com.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
