As trading heats up, McCormick & Co Inc (Symbol: MKC) shares have soared above the average analyst 12-month target of $70.91, clocking in at $77.30/share. When a stock zooms past the target mark, analysts face a fork in the road: downgrade for valuation or notch the target up. This reaction hinges on the fundamental business dynamics propelling the stock up — if the company is set for a sunny spell, it might just be target-raising time.
Within the Zacks coverage universe, 11 distinct analyst targets shape McCormick & Co Inc’s average. Yet, the mean is just that – a statistical mean. Some analysts set lower targets than the mean, with one aiming for $57.00. On the flip side, a bullish analyst has their sights set as high as $86.00. The standard deviation rings in at $9.565.
Why focus on the average MKC price target in the first place? It taps into a crowd wisdom endeavor, pooling together insights from various minds that culminate in the ultimate number. It’s a group effort versus just one individual’s viewpoint. With MKC gliding past the average target of $70.91/share, investors have received a nudge to reevaluate the company. The question now beckons: is $70.91 merely a pitstop on the way to an even loftier target, or has the valuation stretched thin, signaling it might be time to cash in some chips? Delve into the table below to map out the current sentiments of analysts covering McCormick & Co Inc:
| Bite-sized Overview of Recent MKC Analyst Ratings | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Thumbs-Up Ratings: | 3 | 3 | 3 | 3 |
| Buy Ratings: | 0 | 0 | 0 | 0 |
| Hold Ratings: | 5 | 5 | 5 | 5 |
| Sell Ratings: | 0 | 0 | 0 | 0 |
| Thumbs-Down Ratings: | 3 | 3 | 2 | 2 |
| Mean Rating: | 3.0 | 3.0 | 2.8 | 2.8 |
The last row of the table above displays the mean rating, ranging from 1 to 5, where 1 indicates Strong Buy and 5 indicates Strong Sell. Data used in this article is sourced from Zacks Investment Research via Quandl.com. Receive the latest Zacks research report on MKC — at no cost.
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Opinions and sentiments expressed here reflect those of the author, not necessarily Nasdaq, Inc.
