Oppenheimer analyst Glenn Greene maintained a Buy rating on Corelogic (CLGX) today and set a price target of $46. The company’s shares closed yesterday at $37.99, close to its 52-week low of $37.65.
Greene commented:
“After recently meeting with CLGX, we remain optimistic regarding its longer-term profitability trajectory. That said, we suspect mortgage market and client diversification drags could persist (although lessen) into CY19. CLGX still sees opportunity around pricing and new products, and anticipates VSG share gains will help offset client diversification drags, in time. CLGX has line of sight toward its 30% EBITDA margin target in CY20 (we model significantly more conservative). We believe valuation, at ~9x our CY20E EV/EBITDAand ~9% FCF yield, appears quite attractive for patient investors. That said, we suspect the shares remain range-bound given persistent near-term macro headwinds. Maintain Outperform rating and $46 price target.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.8% and a 73.1% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Corelogic with a $49.44 average price target.
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Corelogic’s market cap is currently $3.06B and has a P/E ratio of 18.09. The company has a Price to Book ratio of 2.97.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.
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CoreLogic, Inc. is a property information, analytics and data-enabled services provider operating in North America, Western Europe and Asia Pacific. The company offers its clients a comprehensive national database covering real property and mortgage information, judgments and liens, building and replacement costs, parcel and geospatial data, criminal background records, eviction information, non-prime lending records, credit information, and tax information, among other data types. It operates through the following business segments: Property Intelligence & Risk Management Solutions, and Underwriting & Workflow Solutions. The Property Intelligence & Risk Management Solutions segment combines property information, mortgage information and consumer information to deliver unique housing market and property-level insights, predictive analytics and risk management capabilities. The Underwriting & Workflow Solutions segment combines property information, mortgage information and consumer information to provide comprehensive mortgage origination and monitoring solutions, including underwriting-related solutions and data-enabled valuations and appraisals. The company was founded on1894 is headquartered in Irvine, CA.
