The PHH Corp. (PHH) Coverage Initiated at Wedbush

The PHH Corp. (PHH) Coverage Initiated at Wedbush

Investment analysts at Wedbush started coverage on shares of PHH Corp. (NYSE:PHH) in a report issued on Monday. The firm set a “neutral” rating and a $16.00 price target on the stock. Wedbush’s target price indicates a potential upside of 7.45% from the company’s previous close.

Several other research firms have also recently weighed in on PHH. Keefe, Bruyette & Woods cut shares of PHH Corp. from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $14.92 to $17.00 in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of PHH Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of PHH Corp. in a research report on Monday, August 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. PHH Corp. currently has an average rating of “Hold” and an average target price of $14.75.

Shares of PHH Corp. (NYSE:PHH) opened at 14.89 on Monday. The firm’s market capitalization is $797.02 million. PHH Corp. has a 52-week low of $8.26 and a 52-week high of $18.68. The company has a 50-day moving average price of $14.75 and a 200 day moving average price of $13.82.

PHH Corp. (NYSE:PHH) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.38. PHH Corp. had a negative net margin of 22.64% and a negative return on equity of 6.33%. The firm earned $196 million during the quarter, compared to analysts’ expectations of $182 million. During the same quarter in the previous year, the company posted ($1.43) EPS. PHH Corp.’s revenue was down 17.3% on a year-over-year basis. Analysts expect that PHH Corp. will post ($1.17) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in shares of PHH Corp. by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 7,514 shares of the company’s stock valued at $100,000 after buying an additional 159 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of PHH Corp. by 1.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,567 shares of the company’s stock valued at $500,000 after buying an additional 437 shares during the period. BlackRock Inc. raised its position in shares of PHH Corp. by 15.7% in the first quarter. BlackRock Inc. now owns 8,149 shares of the company’s stock valued at $102,000 after buying an additional 1,103 shares during the period. American International Group Inc. raised its position in shares of PHH Corp. by 4.8% in the second quarter. American International Group Inc. now owns 30,502 shares of the company’s stock valued at $406,000 after buying an additional 1,391 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of PHH Corp. by 5.6% in the second quarter. Nationwide Fund Advisors now owns 45,972 shares of the company’s stock valued at $612,000 after buying an additional 2,448 shares during the period.

PHH Corp. Company Profile

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