Mr. Cooper Group (NASDAQ:COOP) Rating Increased to Overweight at Barclays

Mr. Cooper Group (NASDAQ:COOP) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, The Fly reports. The brokerage presently has a $24.00 price target on the stock, up from their prior price target of $11.00. Barclays‘s price objective suggests a potential upside of 46.97% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Piper Sandler increased their target price on shares of Mr. Cooper Group from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. TheStreet raised Mr. Cooper Group from a “d+” rating to a “c-” rating in a research note on Wednesday, May 20th. Zacks Investment Research raised Mr. Cooper Group from a “sell” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, July 1st. KeyCorp increased their target price on Mr. Cooper Group from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Mr. Cooper Group in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Mr. Cooper Group currently has a consensus rating of “Buy” and an average price target of $16.43.

Shares of Mr. Cooper Group stock opened at $16.33 on Friday. The firm has a market capitalization of $1.50 billion, a PE ratio of 22.37 and a beta of 1.26. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.39. Mr. Cooper Group has a 12 month low of $4.31 and a 12 month high of $16.94. The business’s 50-day moving average price is $12.66 and its 200-day moving average price is $11.03.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, April 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The business had revenue of $278.00 million during the quarter, compared to analyst estimates of $418.35 million. Mr. Cooper Group had a return on equity of 28.82% and a net margin of 3.26%. As a group, analysts predict that Mr. Cooper Group will post 4.21 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Monarch Partners Asset Management LLC boosted its stake in Mr. Cooper Group by 18.0% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 113,865 shares of the company’s stock worth $1,416,000 after purchasing an additional 17,390 shares during the period. Hancock Whitney Corp bought a new position in shares of Mr. Cooper Group during the second quarter worth $1,636,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Mr. Cooper Group by 54.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,377 shares of the company’s stock worth $92,000 after acquiring an additional 2,609 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Mr. Cooper Group by 34.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 136,720 shares of the company’s stock valued at $1,701,000 after acquiring an additional 35,230 shares in the last quarter. Finally, Ziegler Capital Management LLC bought a new stake in Mr. Cooper Group in the 2nd quarter valued at $921,000. 82.95% of the stock is currently owned by institutional investors.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.

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Analyst Recommendations for Mr. Cooper Group (NASDAQ:COOP)

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