PHH (PHH) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of PHH (NYSE:PHH) from a sell rating to a strong sell rating in a report released on Sunday, December 31st.

Separately, Keefe, Bruyette & Woods restated a hold rating and set a $12.00 target price on shares of PHH in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. PHH currently has an average rating of Hold and an average target price of $13.25.

Shares of PHH (NYSE PHH) traded up $0.12 during trading hours on Friday, hitting $10.28. The stock had a trading volume of 294,732 shares, compared to its average volume of 405,629. PHH has a 52 week low of $9.79 and a 52 week high of $15.07. The firm has a market capitalization of $323.19, a price-to-earnings ratio of -1.79 and a beta of 1.85. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.94 and a current ratio of 2.94.

PHH (NYSE:PHH) last announced its quarterly earnings data on Tuesday, November 7th. The credit services provider reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.38). The firm had revenue of $121.00 million during the quarter, compared to analyst estimates of $61.00 million. PHH had a negative return on equity of 27.98% and a negative net margin of 71.84%. PHH’s revenue for the quarter was down 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) earnings per share. analysts predict that PHH will post -4.93 EPS for the current fiscal year.

PHH announced that its board has approved a stock buyback plan on Tuesday, November 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In other PHH news, SVP William F. Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $11.12, for a total transaction of $88,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Leith W. Kaplan sold 9,800 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $11.21, for a total value of $109,858.00. The disclosure for this sale can be found here. Insiders sold a total of 26,625 shares of company stock worth $294,634 in the last 90 days. Company insiders own 2.52% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of PHH by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 69,569 shares of the credit services provider’s stock worth $958,000 after acquiring an additional 448 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of PHH by 237.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the credit services provider’s stock worth $117,000 after acquiring an additional 5,966 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of PHH during the 2nd quarter worth approximately $3,393,000. Royce & Associates LP increased its holdings in shares of PHH by 5.7% during the 2nd quarter. Royce & Associates LP now owns 509,928 shares of the credit services provider’s stock worth $7,022,000 after acquiring an additional 27,500 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of PHH during the 2nd quarter worth approximately $322,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

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About PHH

PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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