PHH Corp. (PHH) Sees Unusually-High Trading Volume
PHH Corp. (NYSE:PHH) shares saw strong trading volume on Monday . 530,732 shares changed hands during trading, an increase of 19% from the previous session’s volume of 444,499 shares.The stock last traded at $15.68 and had previously closed at $15.40.
A number of equities analysts have recently weighed in on the company. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of PHH Corp. in a research report on Monday, August 8th. Zacks Investment Research raised PHH Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Keefe, Bruyette & Woods lowered PHH Corp. from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $14.92 to $17.00 in a research report on Thursday, August 11th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of PHH Corp. in a research report on Thursday, May 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.33.
The company’s market capitalization is $835.56 million. The company’s 50 day moving average price is $14.28 and its 200-day moving average price is $12.78.
PHH Corp. (NYSE:PHH) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.38. The company earned $196 million during the quarter, compared to analysts’ expectations of $182 million. During the same period last year, the firm earned ($1.43) earnings per share. PHH Corp.’s revenue for the quarter was down 17.3% on a year-over-year basis. On average, equities research analysts anticipate that PHH Corp. will post ($1.36) earnings per share for the current fiscal year.
A number of institutional investors recently made changes to their positions in PHH. Rhumbline Advisers boosted its position in shares of PHH Corp. by 1.4% in the fourth quarter. Rhumbline Advisers now owns 72,385 shares of the company’s stock worth $1,173,000 after buying an additional 985 shares during the period. Swiss National Bank boosted its position in shares of PHH Corp. by 15.7% in the fourth quarter. Swiss National Bank now owns 78,700 shares of the company’s stock worth $1,275,000 after buying an additional 10,700 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of PHH Corp. by 73.2% in the fourth quarter. Marshall Wace LLP now owns 161,507 shares of the company’s stock worth $2,616,000 after buying an additional 68,255 shares during the period.
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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