With shares of H & R Block, Inc. (Symbol: HRB) recently surpassing the average analyst target price of $49.67 to reach $50.15/share, investors are left pondering the implications of such a feat. When a stock reaches the target set by analysts, there are typically two reactions: downgrade on valuation or adjust the target price upward. Analysts’ responses may hinge on fundamental business developments that have propelled the stock price higher, indicating a potentially positive outlook for the company.
Average vs. Individual Analyst Targets
Within the Zacks coverage universe, three analysts have contributed to the average target price for H & R Block, Inc. However, the average is merely a statistical figure. Some analysts have set lower targets, with one forecasting a price of $38.00, while others have set higher targets, with one as high as $56.00. The standard deviation stands at $10.115.
Assessing the Average Price Target
The purpose of examining the average HRB price target is to leverage the “wisdom of crowds” approach, which amalgamates the opinions of multiple analysts rather than relying solely on one expert’s viewpoint. As HRB surpasses the average target price of $49.67/share, investors are prompted to reevaluate the company. Is $49.67 just a stepping stone towards an even higher goal, or has the valuation become stretched, warranting consideration of profit-taking measures?
| Recent HRB Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 2 | 2 | 2 | 2 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 2.5 | 2.5 | 2.5 | 2.5 |
The average rating in the table above ranges from 1 (Strong Buy) to 5 (Strong Sell), serving as a guide for investors as they navigate the stock market terrain. The data utilized in this article was sourced from Zacks Investment Research via Quandl.com, providing a comprehensive analysis of HRB — absolutely free.
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The sentiments conveyed in this article represent the views and opinions of the author and may not necessarily align with those of Nasdaq, Inc.
