JMP Securities Reaffirms Their Buy Rating on PennyMac Mortgage (PMT)
In a report issued on February 25, Trevor Cranston from JMP Securities reiterated a Buy rating on PennyMac Mortgage (PMT), with a price target of $21. The company’s shares closed yesterday at $20.37.
Cranston has an average return of 16.8% when recommending PennyMac Mortgage.
According to TipRanks.com, Cranston is ranked #1349 out of 5215 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PennyMac Mortgage with a $21 average price target, implying a 3.1% upside from current levels. In a report issued on February 24, KBW also upgraded the stock to Buy with a $23 price target.
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PennyMac Mortgage’s market cap is currently $1.24B and has a P/E ratio of 10.26. The company has a Price to Book ratio of 0.98.
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PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Corporate Activities.