Extremely significant positive changes in First Merchants Corp (NASDAQ: FRME) investment behavior have recently occurred: the stock rose on very heavy volume, and the stock’s recent price rise disrupted its longer term downtrend.
Recent meaningful positive changes in fundamentals have benefitted First Merchants Corp (NASDAQ: FRME): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, FRME is expected to continue to be a Value Builder.
First Merchants has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. First Merchants has a slightly positive Power Rating of 61 and a good Appreciation Score of 81, triggering the Highest Value Trend Rating.
Recent Price Action
First Merchants Corp (NASDAQ: FRME) stock enjoyed a large increase of 3.0% on 6/28/24. The stock closed at $33.29. Moreover, this advance was accompanied by exceptionally high trading volume at 315% of normal. The stock has performed in line with the market over the last nine months and has risen 4.9% during the last week.
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