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 First Trust Materials AlphaDEX Fund ETF (Symbol: FXZ), we found that the implied analyst target price for the ETF based upon its underlying holdings is $31.75 per unit.
With FXZ trading at a recent price near $25.95 per unit, that means that analysts see 22.33% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of FXZ's underlying holdings with notable upside to their analyst target prices are Armstrong World Industries Inc (Symbol: AWI), Acuity Brands Inc (Symbol: AYI), and Westlake Chemical Corp (Symbol: WLK). Although AWI has traded at a recent price of $37.39/share, the average analyst target is 54.45% higher at $57.75/share. Similarly, AYI has 43.95% upside from the recent share price of $180.01 if the average analyst target price of $259.12/share is reached, and analysts on average are expecting WLK to reach a target price of $62.43/share, which is 43.51% above the recent price of $43.50. Below is a twelve month price history chart comparing the stock performance of AWI, AYI, and WLK:
|Name||Symbol||Recent Price||Avg. Analyst 12-Mo. Target||% Upside to Target|
|First Trust Materials AlphaDEX Fund ETF||FXZ||$25.95||$31.75||22.33%|
|Armstrong World Industries Inc||AWI||$37.39||$57.75||54.45%|
|Acuity Brands Inc||AYI||$180.01||$259.12||43.95%|
|Westlake Chemical Corp||WLK||$43.50||$62.43||43.51%|