Compass Point Maintains a 'Buy' on Federal Agricultural Mortgage Corp (Farmer Mac); Getting Investor Aware
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Price: $30.82 -1.5%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade AGM Now!
Compass Point maintains a 'Buy' on Federal Agricultural Mortgage Corp (Farmer Mac) (NYSE: AGM) price target of $41.00.
Analyst, Mike Turner, said, "Recently, we spent three days on the road with management. As the company has focused the last several years rebuilding the balance sheet, tweaking credit policies, and generating a more stable and growing level of earnings, this represented their first non-deal roadshow in years. Overall, feedback was positive as we believe investors gained confidence in the fact that company is run by a conservative management team and CEO who was raised in farming and spent the majority of his career in credit; however, concerns over leverage and the sustainability of credit quality remain the biggest hurdle for many investors."
Overall, Turner thinks the stock is cheap and believes its just a lack of awareness...Additionally, the fact that GAAP EPS has been depressed by mark-to-market adjustments, the stock screens as a high P/E (2011 GAAP EPS was $1.28 and core was $3.97). The lack of stock liquidity also limits the potential pool of investors.
:
For an analyst ratings summary and ratings history on Federal Agricultural Mortgage Corp (Farmer Mac) click here. For more ratings news on Federal Agricultural Mortgage Corp (Farmer Mac) click here.
Shares of Federal Agricultural Mortgage Corp (Farmer Mac) closed at $25.46 yesterday, with a 52 week range of $15.69-$26.47.
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Analyst, Mike Turner, said, "Recently, we spent three days on the road with management. As the company has focused the last several years rebuilding the balance sheet, tweaking credit policies, and generating a more stable and growing level of earnings, this represented their first non-deal roadshow in years. Overall, feedback was positive as we believe investors gained confidence in the fact that company is run by a conservative management team and CEO who was raised in farming and spent the majority of his career in credit; however, concerns over leverage and the sustainability of credit quality remain the biggest hurdle for many investors."
Overall, Turner thinks the stock is cheap and believes its just a lack of awareness...Additionally, the fact that GAAP EPS has been depressed by mark-to-market adjustments, the stock screens as a high P/E (2011 GAAP EPS was $1.28 and core was $3.97). The lack of stock liquidity also limits the potential pool of investors.
:
For an analyst ratings summary and ratings history on Federal Agricultural Mortgage Corp (Farmer Mac) click here. For more ratings news on Federal Agricultural Mortgage Corp (Farmer Mac) click here.
Shares of Federal Agricultural Mortgage Corp (Farmer Mac) closed at $25.46 yesterday, with a 52 week range of $15.69-$26.47.
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