PHH Co. (PHH) Upgraded to Hold by Zacks Investment Research

PHH Co. (NYSE:PHH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “PHH Corp is a leading outsource provider of mortgage and vehicle fleet management services. It is the sixth largest retail originator of residential mortgages in the United States and the second largest fleet management services provider in the United States and Canada. “

Other analysts also recently issued research reports about the stock. Wedbush upgraded shares of PHH from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $17.00 to $15.50 in a report on Friday, March 3rd. Oppenheimer Holdings Inc. set a $18.00 target price on shares of PHH and gave the company a “buy” rating in a report on Wednesday, January 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. PHH presently has a consensus rating of “Hold” and a consensus target price of $15.30.

Analyst Recommendations for PHH (NYSE:PHH)

Shares of PHH (NYSE:PHH) opened at 12.35 on Tuesday. The firm’s market cap is $661.95 million. The firm has a 50-day moving average of $13.04 and a 200 day moving average of $14.26. PHH has a 52 week low of $9.73 and a 52 week high of $16.80.

PHH (NYSE:PHH) last announced its earnings results on Wednesday, February 15th. The company reported ($1.86) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $1.32. The firm earned $72 million during the quarter, compared to analysts’ expectations of $185 million. PHH had a negative net margin of 18.28% and a negative return on equity of 5.38%. Equities research analysts predict that PHH will post ($3.60) EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Glenview Capital Management LLC bought a new position in PHH during the fourth quarter valued at $68,845,000. Norges Bank bought a new position in PHH during the fourth quarter valued at $13,946,000. Renaissance Technologies LLC raised its position in PHH by 33.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,731,500 shares of the company’s stock valued at $26,250,000 after buying an additional 433,600 shares during the last quarter. Silver Point Capital L.P. raised its position in PHH by 10.2% in the third quarter. Silver Point Capital L.P. now owns 4,407,500 shares of the company’s stock valued at $63,688,000 after buying an additional 407,500 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in PHH by 1,569.7% in the fourth quarter. Two Sigma Investments LP now owns 329,262 shares of the company’s stock valued at $4,992,000 after buying an additional 309,542 shares during the last quarter. Institutional investors own 99.39% of the company’s stock.

About PHH

PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage.

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