Why Did JMP Securities Upgrade AG Mortgage's Stock?

In a report released today, Trevor Cranston from JMP Securities upgraded AG Mortgage (MITT – Research Report) to Buy, with a price target of $13.50. The company's shares closed last Monday at $11.26. According to TipRanks.com, Cranston is a 4-star analyst with an average return of 15.1% and a 71.4% success rate. Cranston covers the Financial sector, focusing on stocks such as ARMOUR Residential REIT, Annaly Capital, and Guild Holdings. The word on The Street in general, suggests a Hold analyst consensus rating for AG Mortgage with a $12.75 average price target. See today’s analyst top recommended stocks >> Based on AG Mortgage's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $18.3 million and net profit of $15.49 million. In comparison, last year the company earned revenue of $11.5 million and had a net profit of $3.06 million. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. AG Mortgage Investment Trust, Inc. is a real estate investment trust, which focuses on investing, acquiring, and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The firm conducts its business through the following segments: Securities and Loans and Single-Family Rental Properties. Its portfolios include Agency RMBS, Residential Investments, Commercial Investments, and ABS. The company was founded on March 1, 2011 and is headquartered in New York, NY. Read More on MITT: JMP Securities Initiates a Buy Rating on Coinbase Global (COIN) Analysts Offer Insights on Healthcare Companies: Incyte (INCY) and Arena Pharma (ARNA) Micron: What’s on the Menu for FQ4 Earnings Goldman Sachs: Buy These 2 Stocks Before They Jump 40% (or More) GM Stock: Hit Gas once Headwinds Play Out The post Why Did JMP Securities Upgrade AG Mortgage's Stock? appeared first on TipRanks Financial Blog.

Why Did JMP Securities Upgrade AG Mortgage's Stock?

In a report released today, Trevor Cranston from JMP Securities upgraded AG Mortgage (MITT – Research Report) to Buy, with a price target of $13.50. The company's shares closed last Monday at $11.26.

According to TipRanks.com, Cranston is a 4-star analyst with an average return of 15.1% and a 71.4% success rate. Cranston covers the Financial sector, focusing on stocks such as ARMOUR Residential REIT, Annaly Capital, and Guild Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for AG Mortgage with a $12.75 average price target.

Based on AG Mortgage's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $18.3 million and net profit of $15.49 million. In comparison, last year the company earned revenue of $11.5 million and had a net profit of $3.06 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AG Mortgage Investment Trust, Inc. is a real estate investment trust, which focuses on investing, acquiring, and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The firm conducts its business through the following segments: Securities and Loans and Single-Family Rental Properties. Its portfolios include Agency RMBS, Residential Investments, Commercial Investments, and ABS. The company was founded on March 1, 2011 and is headquartered in New York, NY.

Read More on MITT:

  • JMP Securities Initiates a Buy Rating on Coinbase Global (COIN)
  • Analysts Offer Insights on Healthcare Companies: Incyte (INCY) and Arena Pharma (ARNA)
  • Micron: What’s on the Menu for FQ4 Earnings
  • Goldman Sachs: Buy These 2 Stocks Before They Jump 40% (or More)
  • GM Stock: Hit Gas once Headwinds Play Out

The post Why Did JMP Securities Upgrade AG Mortgage's Stock? appeared first on TipRanks Financial Blog.

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Amazon to Offer Business Insurance in U.K. — Report

Business insurance broker Superscript has said that Amazon (AMZN) plans to offer insurance to small and medium-sized businesses in the U.K., according to a report by Reuters. The company will Read More... The post Amazon to Offer Business Insurance in U.K. — Report appeared first on TipRanks Financial Blog.

Amazon to Offer Business Insurance in U.K. — Report

Business insurance broker Superscript has said that Amazon (AMZN) plans to offer insurance to small and medium-sized businesses in the U.K., according to a report by Reuters. The company will be offering business insurance in the country for the first time.

Superscript will provide insurance covers like professional indemnity insurance, cyber insurance and contents insurance to members of Amazon's Business Prime program. A spokesperson of Superscript said that “major U.K. insurers” will underwrite these covers.

Furthermore, in a bid to attract businesses, the insurance covers will be offered at a 20% discount. (See Amazon stock chart on TipRanks)

The Country Manager for Amazon Business U.K. & Ireland, Molly Dobson, said, “As businesses come out of the pandemic and gradually resume normalcy, we want customers to have the best-in-class tools to run their business.”

The CEO of Superscript, Cameron Shearer, said, “The (insurance) industry needs to bridge the divide between insurers and customers by providing a quick, smooth buying process that is customer-centric.”

Amazon’s entry into the U.K. business insurance segment follows U.S. insurtech Next Insurance’s announcement in March that it is offering insurance cover to small businesses in the country via Amazon Business Prime.

Amazon already offers “buy now, pay later” services and warranty insurance in Britain.

On September 13, Bank of America (BAC) analyst Justin Post reiterated a Buy rating on the stock with a price target of $4,250 (24.8% upside potential).

The analyst said, “The ability for SMB merchants to capture direct Online sales, off of marketplaces, is a long-term potential threat to Amazon, so we expect Amazon to offer a feature-rich product with deep integration with Amazon’s marketplace, fulfillment, checkout, and payments processing capabilities (with a possible discount on payments processing).”

“We expect some entrenched resistance to Amazon services due to competitive concerns, but the opportunity is big and Amazon’s existing customer relationships provide a foundation to help build adoption,” Post added.

Overall, the stock has a Strong Buy consensus rating based on 31 unanimous Buys. The average Amazon price target of $4,214.47 implies 23.7% upside potential. Shares have gained nearly 10.7% over the past six months.

According to TipRanks’ Smart Score rating system, Amazon scores a “Perfect 10,” suggesting that the stock is likely to outperform market averages.

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The post Amazon to Offer Business Insurance in U.K. — Report appeared first on TipRanks Financial Blog.

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