MGIC Investment Corporation (MTG) : Analyst Rating Update

MGIC Investment Corporation (MTG) : 6 analysts are covering MGIC Investment Corporation (MTG) and their average rating on the stock is 2.17, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. MGIC Investment Corporation (MTG) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

MGIC Investment Corporation (MTG) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $10 and the lowest price target forecast is $8. The average forecast of all the analysts is $8.75 and the expected standard deviation is $1.04.

MGIC Investment Corporation (NYSE:MTG): The stock was completely flat for the day, closing at $5.74 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $5.67, the stock touched an intraday high of $5.77 and a low of $5.45. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $5.74. The total trading volume on Wednesday was 14,914,473.

Also, In the latest statement by the brokerage house, Credit Suisse maintains its outlook on MGIC Investment Corporation (NYSE:MTG). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm lowers the price target from $10 per share to $8 per share. The rating by the firm was issued on May 2, 2016. The company shares have dropped -48.52% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $11.72 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $6.39 and the 200 Day Moving Average price is recorded at $7.08.

MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Companys subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Company provides mortgage insurance to lenders throughout the United States and to Government sponsored entities to protect against loss from defaults on low down payment residential mortgage loans. Its principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries, it also provides various services for the mortgage finance industry, such as contract underwriting and portfolio analysis and retention.

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