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ESNT

Essent Group

$39.44

0.18 (0.46%)

, NMIH

NMI Holdings

$19.68

0.27 (1.39%)

07:13
10/15/18
10/15
07:13
10/15/18
07:13

Barclays sees buying opportunities for mortgage insurers Essent, NMI

Barclays analyst Mark DeVries believes the recent market selloff has presented buying opportunities for "high-growth" mortgage insurers Essent Group (ESNT) and NMI Holdings (NMIH). While the relatively high beta mortgage insurers have all pulled back, Essent and NMI have underperformed peers despite stronger growth prospects, DeVries tells investors in a research note. The analyst also views the selloff in Black Knight (BKI) as overdone given the company's "de minimis" exposure to origination volume.

ESNT

Essent Group

$39.44

0.18 (0.46%)

NMIH

NMI Holdings

$19.68

0.27 (1.39%)

BKI

Black Knight

$47.60

0.2 (0.42%)

  • 30

    Oct

  • 30

    Oct

  • 15

    Nov

ESNT Essent Group
$39.44

0.18 (0.46%)

09/10/18
LEHM
09/10/18
INITIATION
Target $28
LEHM
Overweight
Barclays sees 32% potential upside in NMI Holdings, starts with Overweight
Barclays analyst Mark DeVries initiated coverage of NMI Holdings (NMIH) with an Overweight rating and $28 price target. The analyst sees "compelling" value in all of the other mortgage insurers he covers, namely Essent Group (ESNT), MGIC Investment (MTG) and Radian Group (RDN). However, as the youngest insurer in the industry, NMI Holdings "stands out as having a long runway of outsized insurance in force" and earnings growth as it grows its share within the private mortgage insurance market and generates significant operating leverage, DeVries tells investors in a research note. He sees 32% potential upside in the shares.
04/19/18
WELS
04/19/18
DOWNGRADE
Target $5
WELS
Market Perform
Essent Group downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sean Dargan downgraded Essent Group (ESNT) to Market Perform and lowered his price target for the shares to $38 from $58. The analyst also downgraded MGIC Investment (MTG) to Market Perform and lowered his rating on the Mortgage Insurers space to Market Weight from Overweight. He keeps a Market Perform rating on Radian Group (RDN). Despite tailwinds from mortgage credit, companies in the sector seem "poised to compete away any benefit from tax reform, at the expense of shareholders," Dargan tells investors in a research note. The analyst thought mid-teen returns would be the floor on new pricing, but is now less certain that is the case. Dargan now has less confidence in future estimates.
07/19/18
DBAB
07/19/18
NO CHANGE
Target $16
DBAB
Buy
Private mortgage insurer stocks have found a bottom, says Deutsche Bank
Deutsche Bank analyst Phil Stefano raised his price target for MGIC Investment (MTG) to $16 from $14 saying the company's Q2 results reinforce his belief that the private mortgage insurer stocks have found a bottom. The decline MGIC saw in new defaults and claim rate should be evident in peers' coming results, Stefano tells investors in a research note. As such, the analyst sees upside for consensus estimates in the sector following earnings prints this quarter.
08/06/18
MKMP
08/06/18
NO CHANGE
Target $40
MKMP
Neutral
Essent Group price target lowered to $40 from $45 at MKM Partners
MKM Partners analyst Harry Fong lowered his price target on Essent Group to $40 and kept his Neutral rating, saying that while the better than expected Q2 results were driven by a lower loss ratio as well as a 13% increase in new insurance written, the latter will slow with a more moderate rate of market growth. Fong believes that Essent's share of the new business will depend on its willingness to "compete at the margin", adding that its current valuation of 1.8-times trailing book value is "still a little too rich".
NMIH NMI Holdings
$19.68

0.27 (1.39%)

09/10/18
LEHM
09/10/18
INITIATION
Target $28
LEHM
Overweight
NMI Holdings initiated with an Overweight at Barclays
Barclays analyst Mark DeVries started NMI Holdings with an Overweight rating and $28 price target.
08/06/18
KBWI
08/06/18
DOWNGRADE
Target $23.5
KBWI
Market Perform
NMI Holdings downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Bose George downgraded NMI Holdings to Market Perform while raising his price target for the shares to $23.50 from $21. The analyst believes the company's outlook remains positive and raised his estimates post the Q2 results, but downgrades the shares due to valuation.
09/10/18
09/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. NMI Holdings (NMIH) initiated with an Overweight at Barclays. 2. Aridis Pharmaceuticals (ARDS) initiated with an Outperform at Northland, an Overweight at Cantor Fitzgerald, and a Buy at Laidlaw. 3. Central Garden & Pet (CENT) initiated with a Buy at BofA/Merrill. 4. GDS Holdings (GDS) initiated with an Outperform at Cowen. 5. Overstock.com (OSTK) assumed with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BKI Black Knight
$47.60

0.2 (0.42%)

10/10/18
PIPR
10/10/18
NO CHANGE
Target $94
PIPR
Neutral
Piper boosts Square target to $94, Global Payments target to $157
Piper Jaffray analyst Jason Deleeuw raised his price target for Neutral-rated Square 9SQ) to $94 from $67 in a research previewing the Q3 earnings reports for his FinTech coverage universe. Key fundamental factors for the sector remain positive, including ongoing secular growth and macro cyclical strength, Deleeuw tells investors in a research note. Also, the group's fundamentals are relatively insulated from the key macro risks of rising input costs and tariff escalation, the analyst adds. As such, he expects in-line to better than consensus Q3 results and outlooks, which he thinks will help stabilize the relative valuation multiples for the group. Deleeuw's top ideas into the quarter include Black Knight (BKI), Global Payments (GPN), First Data (FDC), Visa (V), Euronet (EEFT) and Alliance Data (ADS). In addition to Square, the analyst boosted his price target for Overweight-rated Alliance Data to $319 from $312, Neutral-rated American Express (AXP) to $126 from $113, Overweight-rated Global Payments to $157 from $135, Overweight-rated MasterCard (MA) to $216 from $224, Neutral-rated PayPal (PYPL) to $96 from $81 and Overweight-rated Visa to $191 from $166.
07/11/18
DBAB
07/11/18
NO CHANGE
Target $59
DBAB
Buy
Black Knight price target raised to $59 from $56 at Deutsche Bank
Deutsche Bank analyst Ashish Sabadra raised his price target for Black Knight to $59 and reiterates a Buy rating on the shares. The analyst believes the company will "modestly beat and raise" in Q2 and that its revenue growth will accelerate starting in the second half of 2018. Further, the potential for larger acquisitions could help deliver significant upside to forward-year consensus estimates, Sabadra tells investors in a research note. The analyst believes Black Knight's focus on innovation should help expand market share and cross-selling into its existing customer base.
06/19/18
PIPR
06/19/18
NO CHANGE
Target $65
PIPR
Overweight
Black Knight price target raised to $65 from $57 at Piper Jaffray
Piper Jaffray analyst Jason Deleeuw raised his price target for Black Knight to $65 after traveling with management. The company is "strongly positioned" to drive technology transformation in the mortgage sector with its industry leading mortgage servicing/origination/data platforms, Deleeuw tells investors in a research note. He believes Black Knight's long-term client contracts, pricing power and three-year implementation pipeline provide high revenue and earnings visibility through 2020. The stock remains a top idea for the analyst, who keeps an Overweight rating on the shares.
06/18/18
WEDB
06/18/18
NO CHANGE
Target $57
WEDB
Neutral
Black Knight price target raised to $57 from $50 at Wedbush
Wedbush analyst Henry Coffey raised his price target for Black Knight to $57 from $50 given 2020 earnings expectations after assuming coverage of the name. The analyst has a Neutral rating on the stock.

TODAY'S FREE FLY STORIES

GILD

Gilead

$66.32

1.11 (1.70%)

14:45
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10/22
14:45
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14:45
Options
Gilead call volume above normal and directionally bullish »

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SPY

SPDR S&P 500 ETF Trust

$300.58

0.53 (0.18%)

, SPX

S&P 500

$0.00

(0.00%)

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SPY

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$300.58

0.53 (0.18%)

SPX

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BA

Boeing

$340.23

9.11 (2.75%)

14:34
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  • 23

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FB

Facebook

$183.45

-6.37 (-3.36%)

, GOOG

Alphabet

$1,246.51

0.28 (0.02%)

14:25
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U.S antitrust chief says breakup of 'Big Tech' is 'on the table,' WSJ reports »

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GOOG

Alphabet

$1,246.51

0.28 (0.02%)

AMZN

Amazon.com

$1,769.36

-15.37 (-0.86%)

AAPL

Apple

$242.10

1.61 (0.67%)

03/08/13
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GME

GameStop

$6.30

0.37 (6.24%)

14:25
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Options
GameStop call volume above normal and directionally bullish »

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  • 23

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SPY

SPDR S&P 500 ETF Trust

$300.50

0.45 (0.15%)

, SPX

S&P 500

$0.00

(0.00%)

14:17
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General news
Brexit withdrawal agreement bill passes by 329-299 vote, Bloomberg reports »

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SPY

SPDR S&P 500 ETF Trust

$300.50

0.45 (0.15%)

SPX

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$0.00

(0.00%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
10/22/19
10/22
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14:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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Technical Analysis
NYSE market internals summary »

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14:10
10/22/19
10/22
14:10
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14:10
Conference/Events
Senate Commerce, Science & Transportation Committee to hold a hearing »

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UTX

United Technologies

$141.32

3.08 (2.23%)

, BA

Boeing

$339.38

8.26 (2.49%)

14:09
10/22/19
10/22
14:09
10/22/19
14:09
Periodicals
United Tech sees no extra cut in Boeing 737 MAX production in 2019, Reuters says »

United Technologies (UTX)…

UTX

United Technologies

$141.32

3.08 (2.23%)

BA

Boeing

$339.38

8.26 (2.49%)

03/08/13
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03/06/13
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03/06/13
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  • 22

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LLY

Eli Lilly

$109.84

1.9 (1.76%)

14:09
10/22/19
10/22
14:09
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14:09
Earnings
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  • 23

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FCX

Freeport McMoRan

$9.95

0.13 (1.32%)

14:05
10/22/19
10/22
14:05
10/22/19
14:05
Options
Freeport McMoRan call volume above normal and directionally bullish »

Bullish option flow…

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03/06/13
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  • 23

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WBS

Webster Financial

$44.80

-2.51 (-5.31%)

14:01
10/22/19
10/22
14:01
10/22/19
14:01
Downgrade
Webster Financial rating change  »

Compass Point cuts…

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WBS

Webster Financial

$44.69

-2.62 (-5.54%)

13:58
10/22/19
10/22
13:58
10/22/19
13:58
Downgrade
Webster Financial rating change  »

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13:55
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Conference/Events
House Financial Services Committee to hold a hearing »

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SYMC

Symantec

$23.19

0.11 (0.48%)

13:55
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13:55
Conference/Events
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LYFT

Lyft

$44.73

3.87 (9.47%)

, UBER

Uber

$33.79

2.375 (7.56%)

13:47
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Lyft profit call…

LYFT

Lyft

$44.73

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UBER

Uber

$33.79

2.375 (7.56%)

03/08/13
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FEYE

FireEye

$15.67

0.255 (1.65%)

13:45
10/22/19
10/22
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Options
FireEye call volume above normal and directionally bullish »

Bullish option flow…

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  • 29

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13:45
10/22/19
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General news
Treasury Action: the 2-year yield dropped on the good auction results »

Treasury Action: the…

MCD

McDonald's

$201.55

-8.295 (-3.95%)

13:45
10/22/19
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Recommendations
McDonald's analyst commentary  »

McDonald's price…

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  • 22

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PRGS

Progress Software

$39.56

-0.06 (-0.15%)

13:44
10/22/19
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Initiation
Progress Software initiated  »

Progress Software…

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  • 23

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BIIB

Biogen

$291.60

68.03 (30.43%)

13:39
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  • 22

    Oct

JBHT

J.B. Hunt

$116.80

1.42 (1.23%)

, KNX

Knight-Swift

$37.00

0.17 (0.46%)

13:38
10/22/19
10/22
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Hot Stocks
ATA says truck tonnage index rose 0.2% in September »

American Trucking…

JBHT

J.B. Hunt

$116.80

1.42 (1.23%)

KNX

Knight-Swift

$37.00

0.17 (0.46%)

ODFL

Old Dominion

$179.81

-0.14 (-0.08%)

SWFT

Swift Transportation

$0.00

(0.00%)

WERN

Werner

$37.39

0.47 (1.27%)

ARCB

ArcBest

$29.91

-0.62 (-2.03%)

03/08/13
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  • 24

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  • 01

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BA

Boeing

$338.95

7.83 (2.36%)

, TMO

Thermo Fisher

$283.75

0.3 (0.11%)

13:36
10/22/19
10/22
13:36
10/22/19
13:36
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BA

Boeing

$338.95

7.83 (2.36%)

TMO

Thermo Fisher

$283.75

0.3 (0.11%)

LLY

Eli Lilly

$109.81

1.87 (1.73%)

CAT

Caterpillar

$132.73

0.51 (0.39%)

ANTM

Anthem

$263.46

10.3 (4.07%)

BX

Blackstone

$49.33

0.225 (0.46%)

BSX

Boston Scientific

$38.79

0.13 (0.34%)

GD

General Dynamics

$179.02

3.59 (2.05%)

NSC

Norfolk Southern

$187.37

1.2 (0.64%)

HLT

Hilton

$92.41

0.03 (0.03%)

FCX

Freeport McMoRan

$9.96

0.14 (1.43%)

IVZ

Invesco

$16.13

-0.015 (-0.09%)

OC

Owens Corning

$63.55

0.085 (0.13%)

03/08/13
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03/06/13
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  • 23

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  • 23

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  • 04

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    Nov

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    Nov

  • 02

    Dec

  • 07

    Dec

SGMS

Scientific Games

$23.49

0.745 (3.28%)

, IGT

International Game

$14.11

0.34 (2.47%)

13:34
10/22/19
10/22
13:34
10/22/19
13:34
Recommendations
Scientific Games, International Game analyst commentary  »

Brazil win potentially…

SGMS

Scientific Games

$23.49

0.745 (3.28%)

IGT

International Game

$14.11

0.34 (2.47%)

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