Front Yard Residential (RESI) Receives a Buy from Credit Suisse


In a report issued on August 24, Douglas Harter from Credit Suisse maintained a Buy rating on Front Yard Residential (RESI). The company’s shares closed last Thursday at $9.98.

According to TipRanks.com, Harter is a 5-star analyst with an average return of 10.6% and a 65.8% success rate. Harter covers the Financial sector, focusing on stocks such as Ellington Residential Mortgage, Arlington Asset Investment, and ARMOUR Residential REIT.

Front Yard Residential has an analyst consensus of Strong Buy, with a price target consensus of $13.00, which is a 28.2% upside from current levels. In a report issued on August 10, Northland Securities also assigned a Buy rating to the stock with a $12.00 price target.

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Based on Front Yard Residential’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $54.33 million and GAAP net loss of $20.22 million. In comparison, last year the company earned revenue of $51.55 million and had a GAAP net loss of $25.02 million.

Based on the recent corporate insider activity of 42 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.

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