NMI (NMIH) Raised to “Strong-Buy” at Zacks Investment Research

NMI (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm presently has a $23.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.16% from the company’s current price.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

Several other research firms have also commented on NMIH. Barclays set a $27.00 price objective on shares of NMI and gave the stock a “buy” rating in a research note on Friday, December 14th. ValuEngine lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Compass Point lifted their price objective on shares of NMI from $23.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. JPMorgan Chase & Co. assumed coverage on shares of NMI in a research note on Tuesday, December 11th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, BidaskClub lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.70.

NMIH stock opened at $19.80 on Friday. NMI has a fifty-two week low of $13.35 and a fifty-two week high of $24.50. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.32 billion, a P/E ratio of 34.74 and a beta of 1.10.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, October 30th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. NMI had a net margin of 27.89% and a return on equity of 15.86%. The firm had revenue of $71.76 million during the quarter. Analysts predict that NMI will post 1.66 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of NMI during the third quarter valued at $106,000. Meeder Asset Management Inc. boosted its stake in shares of NMI by 416.5% during the fourth quarter. Meeder Asset Management Inc. now owns 7,190 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 5,798 shares during the period. Calamos Advisors LLC purchased a new stake in shares of NMI during the third quarter valued at $275,000. Invictus RG purchased a new stake in shares of NMI during the third quarter valued at $281,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of NMI during the second quarter valued at $283,000. 90.55% of the stock is owned by hedge funds and other institutional investors.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders.

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