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How The Pieces Add Up: IJR Targets $82

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares Core S&P Small-Cap ETF (Symbol: IJR), we found that the implied analyst target price for the ETF based upon its underlying holdings is $82.49 per unit.

With IJR trading at a recent price near $74.25 per unit, that means that analysts see 11.10% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of IJR's underlying holdings with notable upside to their analyst target prices are Garrett Motion Inc (Symbol: GTX), NMI Holdings Inc (Symbol: NMIH), and Methode Electronics Inc (Symbol: MEI). Although GTX has traded at a recent price of $3.84/share, the average analyst target is 69.27% higher at $6.50/share. Similarly, NMIH has 54.26% upside from the recent share price of $16.53 if the average analyst target price of $25.50/share is reached, and analysts on average are expecting MEI to reach a target price of $40.00/share, which is 40.11% above the recent price of $28.55. Below is a twelve month price history chart comparing the stock performance of GTX, NMIH, and MEI:

GTX, NMIH, and MEI Relative Performance Chart

Below is a summary table of the current analyst target prices discussed above:

Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target
iShares Core S&P Small-Cap ETF IJR $74.25 $82.49 11.10%
Garrett Motion Inc GTX $3.84 $6.50 69.27%
NMI Holdings Inc NMIH $16.53 $25.50 54.26%
Methode Electronics Inc MEI $28.55 $40.00 40.11%

Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.

10 ETFs With Most Upside To Analyst Targets »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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