Zacks Investment Research Lowers Home Point Capital (NASDAQ:HMPT) to Sell
According to Zacks, “Home Point Capital Inc. is involved in homebuying and home ownership experience. The company’s primary business entity, Home Point Financial Corporation, is a mortgage originator and servicer. Through additional wholly owned subsidiaries Home Point Mortgage Acceptance Corporation and Home Point Asset Management, the company supports sustainable homeownership. Home Point Capital Inc. is based in ANN ARBOR, Mich. “
Several other equities research analysts have also weighed in on the stock. Piper Sandler assumed coverage on shares of Home Point Capital in a report on Monday, March 1st. They issued an “overweight” rating and a $18.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Home Point Capital in a report on Tuesday, February 23rd. They issued a “neutral” rating and a $13.00 target price on the stock. Credit Suisse Group began coverage on shares of Home Point Capital in a report on Monday, March 1st. They issued an “outperform” rating and a $18.00 target price on the stock. Wells Fargo & Company began coverage on shares of Home Point Capital in a research report on Monday, March 1st. They set an “overweight” rating and a $17.00 price objective for the company. Finally, JMP Securities began coverage on shares of Home Point Capital in a research report on Monday, March 1st. They set a “market outperform” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.20.
Home Point Capital (NASDAQ:HMPT) last announced its quarterly earnings data on Thursday, March 11th. The company reported $1.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.02). The company had revenue of $455.10 million for the quarter, compared to analyst estimates of $457.00 million.
Home Point Capital Company Profile
Home Point Capital Inc, together with its subsidiaries, operates as a residential mortgage originator and service provider. It operates through two segments, Origination and Servicing. The Origination segment sources loans through direct, wholesale, and correspondent channels. The Servicing segment offers collecting loan payments; remitting principal and interest payments to investors; managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; and performing loss mitigation activities on behalf of investors and administering mortgage loans.
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