Northland Securities analyst Michael Grondahl maintained a Buy rating on Front Yard Residential Corporation (RESI) today and set a price target of $15. The company’s shares opened today at $11.27.
Grondahl wrote:
“We believe ending the proxy battle will allow the BOD and Company to focus on executing with upside from continued fundamental progress along with potential from moving forward with the strategic alternatives.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 20.5% and a 63.3% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, Health Insurance Innovations, and Piper Jaffray Companies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Front Yard Residential Corporation with a $15 average price target.
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Based on Front Yard Residential Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.51 million. In comparison, last year the company had a GAAP net loss of $27.35 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RESI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Front Yard Residential Corp. is a real estate investment trust, which focuses on acquiring and managing single-family rental properties for working class families throughout the United States. It purchases sub-performing and non-performing mortgage loans. The company was founded on July 19, 2012 and is headquartered in Christiansted, U.S. Virgin Islands.
