Howard Hughes (NYSE:HHH) Price Target Raised to $79.00

Howard Hughes (NYSE:HHH) had its target price upped by JPMorgan Chase & Co. from $76.00 to $79.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

HHH has been the topic of a number of other research reports. Weiss Ratings lowered shares of Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Zacks Research raised shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen raised shares of Howard Hughes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $79.00.

Howard Hughes Stock Down 2.3%

Shares of Howard Hughes stock opened at $70.40 on Thursday. Howard Hughes has a 1 year low of $61.01 and a 1 year high of $91.07. The business has a 50-day moving average of $67.61 and a two-hundred day moving average of $70.68. The company has a market capitalization of $4.20 billion, a P/E ratio of 34.51 and a beta of 1.12. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.58 and a quick ratio of 1.58.

Howard Hughes (NYSE:HHH) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.The business had revenue of $235.92 million for the quarter. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities analysts predict that Howard Hughes will post 2.77 EPS for the current year.

Insider Activity at Howard Hughes

In related news, insider James Carman sold 1,500 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.20, for a total transaction of $96,300.00. Following the completion of the transaction, the insider owned 22,096 shares in the company, valued at approximately $1,418,563.20. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Howard Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in Howard Hughes during the fourth quarter valued at approximately $511,000. M&T Bank Corp bought a new position in Howard Hughes in the fourth quarter valued at approximately $4,208,000. Annex Advisory Services LLC grew its stake in Howard Hughes by 1,117.5% in the fourth quarter. Annex Advisory Services LLC now owns 181,388 shares of the company’s stock valued at $14,469,000 after purchasing an additional 166,489 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Howard Hughes by 90.5% during the 4th quarter. SG Americas Securities LLC now owns 48,992 shares of the company’s stock worth $3,908,000 after purchasing an additional 23,276 shares during the last quarter. Finally, Walleye Partners LLC acquired a new position in shares of Howard Hughes during the 4th quarter worth approximately $4,549,000. 93.83% of the stock is owned by institutional investors.

About Howard Hughes

Howard Hughes Holdings Inc, together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona.