PHH (PHH) Downgraded by ValuEngine

ValuEngine downgraded shares of PHH (NYSE:PHH) from a sell rating to a strong sell rating in a research report sent to investors on Sunday morning.

Separately, Keefe, Bruyette & Woods restated a hold rating and set a $12.00 target price on shares of PHH in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $14.83.

PHH (PHH) opened at $10.28 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.84. PHH has a 52-week low of $10.09 and a 52-week high of $15.53. The stock has a market cap of $335.23, a PE ratio of -1.79 and a beta of 1.85.

PHH (NYSE:PHH) last released its earnings results on Tuesday, November 7th. The credit services provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.38). PHH had a negative net margin of 71.84% and a negative return on equity of 27.98%. The business had revenue of $121.00 million for the quarter, compared to analyst estimates of $61.00 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The business’s revenue for the quarter was down 38.6% on a year-over-year basis. equities research analysts anticipate that PHH will post -4.93 earnings per share for the current year.

PHH announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, SVP Leith W. Kaplan sold 9,800 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $11.21, for a total value of $109,858.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William F. Brown sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $11.12, for a total value of $88,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,625 shares of company stock valued at $294,634. 2.52% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in PHH during the 3rd quarter worth approximately $730,000. Dimensional Fund Advisors LP increased its stake in PHH by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,919,106 shares of the credit services provider’s stock worth $54,593,000 after purchasing an additional 127,845 shares in the last quarter. Wells Fargo & Company MN increased its stake in PHH by 18.7% during the 3rd quarter. Wells Fargo & Company MN now owns 46,824 shares of the credit services provider’s stock worth $652,000 after purchasing an additional 7,363 shares in the last quarter. SG Americas Securities LLC bought a new stake in PHH during the 3rd quarter worth approximately $587,000. Finally, Teacher Retirement System of Texas bought a new stake in PHH during the 3rd quarter worth approximately $298,000. 93.29% of the stock is owned by 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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