loanDepot (NYSE:LDI) Downgraded by Zacks Investment Research to Sell

Last updated on Wednesday, June 9, 2021 | 2021 MarketBeat

loanDepot (NYSE:LDI) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, "loanDepot Inc. provides mortgage and non-mortgage loan products. The Company offers consumer credit products to customers, ranging from home loans to unsecured personal loans. loanDepot Inc. is based in CA, United States. "

Several other analysts also recently weighed in on the company. Raymond James cut their price target on loanDepot from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 4th. Rowe assumed coverage on loanDepot in a report on Tuesday, March 9th. They issued a "buy" rating and a $25.00 target price on the stock. UBS Group assumed coverage on loanDepot in a research note on Tuesday, March 9th. They issued a "neutral" rating and a $20.00 price target for the company. Jefferies Financial Group began coverage on loanDepot in a research report on Tuesday, March 9th. They set a "buy" rating and a $33.00 price objective for the company. Finally, Piper Sandler started coverage on loanDepot in a research report on Tuesday, March 9th. They issued a "neutral" rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. loanDepot has an average rating of "Buy" and a consensus price target of $23.08.

LDI stock opened at $13.90 on Wednesday. loanDepot has a twelve month low of $12.05 and a twelve month high of $39.85. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average of $17.46.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Sunday, May 2nd. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.57 by $0.41. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.02 billion. The company's revenue was up 170.7% compared to the same quarter last year. Equities research analysts anticipate that loanDepot will post 2.55 EPS for the current fiscal year.

In related news, CAO Nicole Carrillo sold 11,867 shares of the business's stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $13.87, for a total value of $164,595.29. Following the completion of the sale, the chief accounting officer now directly owns 18,688 shares in the company, valued at $259,202.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional investors have recently bought and sold shares of the company. UBS Group AG acquired a new position in loanDepot during the 1st quarter valued at about $108,000. HighTower Advisors LLC acquired a new stake in shares of loanDepot during the first quarter worth approximately $207,000. Virtu Financial LLC acquired a new stake in shares of loanDepot during the first quarter worth approximately $358,000. Geode Capital Management LLC acquired a new stake in loanDepot in the first quarter valued at approximately $508,000. Finally, Teacher Retirement System of Texas acquired a new stake in loanDepot in the first quarter valued at approximately $997,000. Institutional investors own 0.33% of the company's stock.

loanDepot Company Profile

loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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