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

Howard Hughes (NYSE:HHH) had its price target increased by equities researchers at JPMorgan Chase & Co. from $76.00 to $79.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.49% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings downgraded Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Finally, Wall Street Zen raised 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. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $79.00.

Howard Hughes Trading Down 0.9%

Shares of NYSE:HHH traded down $0.68 during midday trading on Thursday, hitting $72.15. 194,327 shares of the stock traded hands, compared to its average volume of 447,126. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average is $67.35 and its two-hundred day moving average is $70.73. The stock has a market capitalization of $4.30 billion, a PE ratio of 35.36 and a beta of 1.12. Howard Hughes has a one year low of $61.01 and a one year high of $91.07.

Howard Hughes (NYSE:HHH) last posted its earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) 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 firm had revenue of $235.92 million for the quarter. During the same period last year, the firm posted $0.21 earnings per share. Howard Hughes’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, research analysts forecast that Howard Hughes will post 3.01 earnings per share for the current year.

Insider Buying and Selling

In other news, insider James Carman sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. Following the transaction, the insider owned 22,096 shares of the company’s stock, valued at $1,418,563.20. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Howard Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HHH. Brighton Jones LLC purchased a new stake in shares of Howard Hughes in the fourth quarter worth $511,000. Royal Bank of Canada lifted its stake in shares of Howard Hughes by 1,900.6% during the 1st quarter. Royal Bank of Canada now owns 99,248 shares of the company’s stock valued at $7,353,000 after buying an additional 94,287 shares in the last quarter. Millennium Management LLC boosted its holdings in Howard Hughes by 2,368.8% in the 1st quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock worth $12,292,000 after buying an additional 159,205 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Howard Hughes by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company’s stock worth $8,785,000 after buying an additional 25,001 shares during the period. Finally, Focus Partners Wealth purchased a new stake in Howard Hughes in the 1st quarter worth $254,000. Institutional investors own 93.83% of the company’s stock.

Howard Hughes Company Profile

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.