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Stonegate Mortgage Corp (NYSE:SGM) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $17.00 price objective on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 34.49% from the stock’s previous close.

The analysts wrote, “Operating EPS excludes a $7.9 million negative MSR valuation adjustment, $9.6 million of ramp and other one-time expenses, and other non-recurring expenses of $1.0 million. We are reducing our 2014 and 2015 EPS estimates on lower mortgage banking volumes. We are upgrading SGM to Outperform on valuation. We are maintaining our $17 price target, which equates to roughly 7x our 2015 EPS estimate.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Sidoti initiated coverage on shares of Stonegate Mortgage Corp in a research note on Wednesday, April 23rd. They set a “neutral” rating on the stock. Separately, analysts at Zacks downgraded shares of Stonegate Mortgage Corp from a “neutral” rating to an “underperform” rating in a research note on Friday, March 21st. They now have a $13.70 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Stonegate Mortgage Corp from $22.00 to $19.00 in a research note on Thursday, February 27th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Stonegate Mortgage Corp has an average rating of “Buy” and an average price target of $17.95.

Shares of Stonegate Mortgage Corp (NYSE:SGM) opened at 12.64 on Friday. Stonegate Mortgage Corp has a 52 week low of $11.81 and a 52 week high of $18.94. The stock’s 50-day moving average is $13.16 and its 200-day moving average is $15.27. The company has a market cap of $325.7 million and a P/E ratio of 9.29.

Stonegate Mortgage Corp (NYSE:SGM) last released its earnings data on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.03. Analysts expect that Stonegate Mortgage Corp will post $1.89 EPS for the current fiscal year.

Stonegate Mortgage Corporation is a United States-based specialty financial services firm focused on the United States residential mortgage market.

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