Piper Sandler Forecasts Strong Price Appreciation for Mr. Cooper Group (NASDAQ:COOP) Stock

Mr. Cooper Group (NASDAQ:COOP) had its price target raised by research analysts at Piper Sandler from $113.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 16.65% from the company’s current price.

Several other brokerages also recently commented on COOP. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays lifted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Compass Point lifted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. JMP Securities began coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.13.

Mr. Cooper Group Stock Performance

COOP opened at $102.87 on Wednesday. The business has a 50 day moving average price of $96.89 and a 200 day moving average price of $92.89. Mr. Cooper Group has a twelve month low of $64.35 and a twelve month high of $105.00. The firm has a market cap of $6.58 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. As a group, analysts anticipate that Mr. Cooper Group will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the sale, the chief executive officer now owns 788,821 shares of the company’s stock, valued at $76,973,153.18. The trade was a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 90,000 shares of company stock worth $8,414,400. Company insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Several institutional investors have recently bought and sold shares of COOP. Quarry LP acquired a new stake in Mr. Cooper Group in the 2nd quarter valued at $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group in the 3rd quarter valued at $30,000. Harvest Fund Management Co. Ltd boosted its stake in Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares in the last quarter. ORG Partners LLC acquired a new stake in Mr. Cooper Group in the 4th quarter valued at $51,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mr. Cooper Group in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.