Enact Holdings Inc Surpasses Analyst Target: What Comes Next?
In recent trading, shares of Enact Holdings Inc (Symbol: ACT) have crossed above the average analyst 12-month target price of $36.75, changing hands for $36.93 per share. When a stock meets its target price, analysts have two options: they can either downgrade the stock due to valuation concerns or raise their target price. How they respond often relies on positive developments within the company, suggesting that an increase in target prices might be warranted.
Analyst targets for Enact Holdings Inc come from six different experts within the Zacks coverage universe, illustrating a broad range of opinions. While the average target stands at $36.75, forecasts vary between a low of $32.00 and a high of $41.00. The standard deviation across these predictions is $2.962, highlighting the differing views among analysts.
The rationale behind utilizing the average ACT price target is to leverage collective insights, understanding it as a combination of various expert opinions rather than just one individual analyst’s perspective. With ACT’s stock price now above $36.75, investors are encouraged to evaluate the company’s outlook: will it continue to rise, or is it time to consider taking profits? Below is a detailed table presenting the current thoughts from analysts covering Enact Holdings Inc:
| Recent ACT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 3 | 3 | 3 | 3 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 3 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.0 | 2.0 | 2.0 | 2.0 |
The average rating indicated (2.0) represents a scale from 1 being a Strong Buy to 5 being a Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. Access the latest Zacks research report on ACT — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
