PHH Short Interest Up 41.9% in August (PHH)
PHH (NYSE:PHH) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 23,190,501 shares, an increase of 41.9% from the July 31st total of 16,341,828 shares, StockRatingsNetwork reports. Currently, 40.5% of the company’s stock are short sold. Based on an average trading volume of 710,259 shares, the days-to-cover ratio is presently 32.7 days.
Several analysts have recently commented on the stock. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of PHH in a research note on Monday, August 11th. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Zacks upgraded shares of PHH from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 7th. They now have a $24.00 price target on the stock. Finally, analysts at Sidoti initiated coverage on shares of PHH in a research note on Friday, July 18th. They set a “buy” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.63.
PHH (NYSE:PHH) opened at 23.85 on Friday. PHH has a 52 week low of $20.62 and a 52 week high of $27.13. The stock has a 50-day moving average of $23.86 and a 200-day moving average of $24.19. The company’s market cap is $1.370 billion.
PHH (NYSE:PHH) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.31) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.13) by $0.18. During the same quarter last year, the company posted $1.40 earnings per share. Analysts expect that PHH will post $-1.23 EPS for the current fiscal year.
PHH Corporation (NYSE:PHH) is an outsource provider of mortgage and fleet management services.
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