Howard Hughes (NYSE:HHH) Raised to Hold at Zacks Research

Howard Hughes (NYSE:HHH) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities analysts also recently commented on HHH. Weiss Ratings raised shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Howard Hughes currently has an average rating of “Hold” and a consensus price target of $79.00.

Howard Hughes Price Performance

Shares of HHH opened at $62.66 on Monday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 12.68 and a beta of 1.14. The stock has a 50 day moving average of $66.47 and a 200-day moving average of $66.04. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. Howard Hughes has a 52 week low of $60.25 and a 52 week high of $91.07.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $2.19. The business had revenue of $1.12 billion for the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%.The business’s revenue was up 330.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. As a group, analysts forecast that Howard Hughes will post 2.77 EPS for the current year.

Insider Activity at Howard Hughes

In related news, Director Mary Tighe sold 13,495 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 47.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Howard Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HHH. Allworth Financial LP bought a new stake in shares of Howard Hughes in the 2nd quarter worth $31,000. Huntington National Bank boosted its stake in Howard Hughes by 134.1% during the fourth quarter. Huntington National Bank now owns 494 shares of the company’s stock valued at $39,000 after buying an additional 283 shares in the last quarter. Versant Capital Management Inc boosted its stake in Howard Hughes by 688.4% during the second quarter. Versant Capital Management Inc now owns 883 shares of the company’s stock valued at $63,000 after buying an additional 771 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Howard Hughes by 245.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,288 shares of the company’s stock worth $103,000 after acquiring an additional 915 shares during the period. Finally, Nykredit A S acquired a new position in Howard Hughes during the second quarter worth about $110,000. 93.83% of the stock is owned by institutional investors.

About Howard Hughes

Howard Hughes Holdings Inc is a real estate development and management company that creates and operates large-scale master planned communities, mixed-use properties and strategic real estate developments. Its activities include land development, homebuilder lot sales, commercial and multifamily development, retail operations and the management of community amenities and infrastructure.

The company’s master planned communities include Summerlin in the Las Vegas area, The Woodlands and Bridgeland in the Houston area, The Woodlands Hills in Texas, Teravalis in the Phoenix area and Ward Village in Honolulu.