Stock Yards Bancorp Surpasses Analyst Price Target with New Moves
Recently in trading, shares of Stock Yards Bancorp Inc (Symbol: SYBT) climbed above the average analyst 12-month target price of $77.40, selling at $77.54 per share. When a stock reaches an analyst’s target, they have two primary reactions: either downgrade based on market valuation or adjust their target price upwards. An analyst’s reaction may also hinge on the fundamental business developments influencing the stock price—if the company appears to be performing well, raising the target price may be warranted.
Analyst Perspective on Price Targets
There are five distinct analyst targets tracked within the Zacks coverage for Stock Yards Bancorp Inc, but the average represents just that—a mathematical mean. Some analysts have lower expectations, with one estimating a price of $70.00, while another has a more bullish target set at $81.00. The standard deviation among these targets is $4.56.
The significance of the average SYBT price target lies in its representation of collective analyst sentiment, integrating insights from multiple analysts rather than relying on a single perspective. Given that SYBT has surpassed this average target price of $77.40 per share, investors are now encouraged to re-evaluate their positions: is this amount merely a stepping stone toward a higher target, or has the valuation become overstretched, prompting the need to consider selling some shares? Below is a table detailing the current positions of analysts covering Stock Yards Bancorp Inc:
| Recent SYBT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months 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 noted above uses a scale from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. Data for this article has been sourced from Zacks Investment Research via Quandl.com.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
