Raymond James Keeps Their Buy Rating on Ready Capital (RC)

In a report issued on August 7, Stephen Laws from Raymond James maintained a Buy rating on Ready Capital (RC). The company’s shares closed last Wednesday at $9.49.

According to TipRanks.com, Laws is a 4-star analyst with an average return of 4.7% and a 58.1% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Kkr Real Estate Finance, and Granite Point Mortgage.

Currently, the analyst consensus on Ready Capital is a Strong Buy with an average price target of $11.00, implying a 16.9% upside from current levels. In a report issued on August 7, B.Riley FBR also reiterated a Buy rating on the stock with a $11.00 price target.

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The company has a one-year high of $16.90 and a one-year low of $3.92. Currently, Ready Capital has an average volume of 575.2K.

Based on the recent corporate insider activity of 24 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 RC 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.

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. The company operates in four segments: SBC Originations, SBA Originations, Acquisitions & Servicing, Loan Acquisitions and Residential Mortgage Banking. The SBC Originations segment originate SBC loans secured by stabilized or transitional investor properties using multiple loan origination channels through its wholly-owned subsidiary, ReadyCap Commercial, LLC. The SBA Originations, Acquisitions & Servicing segment acquires, originates and services owner-occupied loans guaranteed by the SBA its wholly-owned subsidiary, ReadyCap Lending, LLC. The Loan Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of its business strategy. The Residential Mortgage Banking segment through its wholly-owned subsidiary, GMFS, LLC originates residential mortgage loans eligible to be purchased, guaranteed or insured by Fannie Mae, Freddie Mac, FHA, USDA and VA through retail, correspondent and broker channels. Ready Capital was founded in 2011 and is headquartered in New York, NY.

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