Middlesex Water Co. Shares Rise Above Analyst Target Price
Recently, shares of Middlesex Water Co. (Symbol: MSEX) have surpassed the average 12-month target price set by analysts, currently trading at $61.63 per share. When a stock reaches an analyst’s target, they generally have two responses: they can either downgrade the stock due to valuation concerns or raise their target price. The decision often depends on the underlying business developments that may be driving the stock higher.
Within the Zacks coverage universe, three analysts contribute to the average target price for Middlesex Water Co. However, the average is simply a mathematical compilation. Some analysts have lower targets, such as one predicting a price of $56.00, while another sets a higher target at $66.00. The standard deviation among these estimates stands at $5.00, indicating some variability in expectations.
Looking at the average price target offers investors insights from multiple analysts rather than just one opinion. With MSEX now exceeding the average target price of $61.00 per share, investors have an opportunity to evaluate the company’s potential. They must decide whether $61.00 is merely a pause on the way to a higher target or if the valuation has become stretched, prompting consideration of profit-taking. Below is a table outlining the current analyst ratings for Middlesex Water Co.:
| Recent MSEX Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 1 | 2 | 1 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 1 | 0 | 1 | 1 |
| Sell ratings: | 1 | 1 | 1 | 1 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.67 | 2.0 | 2.67 | 2.67 |
The average rating system ranges from 1 to 5, where 1 indicates a Strong Buy and 5 reflects a Strong Sell. This analysis utilized data provided by Zacks Investment Research via Quandl.com. For the latest Zacks research report on MSEX, click here.
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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.
