Howard Hughes (NYSE:HHH) Stock Rating Upgraded by Zacks Research

Howard Hughes (NYSE:HHH) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings upgraded Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Piper Sandler dropped their price objective on shares of Howard Hughes from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Howard Hughes currently has an average rating of “Moderate Buy” and an average target price of $81.00.

Howard Hughes Trading Down 5.8%

Shares of HHH opened at $68.30 on Tuesday. Howard Hughes has a 12 month low of $60.09 and a 12 month high of $91.07. The stock’s 50-day moving average is $66.88 and its two-hundred day moving average is $66.47. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market cap of $4.08 billion, a PE ratio of 13.83 and a beta of 1.14.

Howard Hughes (NYSE:HHH) last posted its earnings results on Wednesday, August 5th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $2.19. The business had revenue of $1.12 billion during the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%. Howard Hughes’s quarterly revenue was up 330.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. Equities analysts forecast that Howard Hughes will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Howard Hughes news, Director Mary Tighe sold 13,495 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total value of $907,538.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Davis acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average cost of $64.49 per share, with a total value of $64,490.00. Following the completion of the transaction, the chief operating officer owned 32,530 shares in the company, valued at $2,097,859.70. The trade was a 3.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 47.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Howard Hughes by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock worth $178,549,000 after acquiring an additional 208,617 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Howard Hughes in the 2nd quarter worth about $115,766,000. Donald Smith & CO. Inc. bought a new stake in shares of Howard Hughes in the 2nd quarter worth about $71,691,000. Flat Footed LLC bought a new stake in shares of Howard Hughes in the 2nd quarter worth about $44,353,683. Finally, Bank of America Corp DE raised its stake in shares of Howard Hughes by 14.8% in the 1st quarter. Bank of America Corp DE now owns 304,520 shares of the company’s stock valued at $19,264,000 after purchasing an additional 39,246 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

About Howard Hughes

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and management company focused primarily on master planned communities and mixed-use properties. The company develops residential neighborhoods and supporting infrastructure while also owning and operating commercial, retail, office, multifamily, hospitality and entertainment assets.

Its portfolio includes master planned communities such as The Woodlands, Bridgeland and The Woodlands Hills in the Houston area; Summerlin in the Las Vegas region; Ward Village in Honolulu; and Teravalis in the Phoenix metropolitan area.