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

Howard Hughes (NYSE:HHH) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on the company. Wall Street Zen raised Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Howard Hughes in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $79.00.

Howard Hughes Trading Down 0.4%

Shares of NYSE:HHH opened at $66.32 on Tuesday. The company has a market capitalization of $3.95 billion, a P/E ratio of 32.51 and a beta of 1.12. Howard Hughes has a 1 year low of $61.01 and a 1 year high of $91.07. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.58 and a quick ratio of 1.58. The business’s 50 day simple moving average is $67.78 and its 200 day simple moving average is $70.34.

Howard Hughes (NYSE:HHH) last announced 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. The firm had revenue of $235.92 million during the quarter. Howard Hughes had a return on equity of 5.41% and a net margin of 8.04%.Howard Hughes’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, research analysts anticipate that Howard Hughes will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Howard Hughes news, insider James Carman sold 1,500 shares of the business’s stock in a transaction that occurred 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 directly owned 22,096 shares in the company, valued at $1,418,563.20. The trade was a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Howard Hughes

Hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC raised its holdings in shares of Howard Hughes by 7.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,409 shares of the company’s stock worth $244,000 after buying an additional 226 shares in the last quarter. Versant Capital Management Inc boosted its stake in Howard Hughes by 688.4% in 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. Bank of America Corp DE boosted its stake in Howard Hughes by 14.8% in the first quarter. Bank of America Corp DE now owns 304,520 shares of the company’s stock valued at $19,264,000 after buying an additional 39,246 shares in the last quarter. California State Teachers Retirement System grew its position in Howard Hughes by 31.5% in the first quarter. California State Teachers Retirement System now owns 40,428 shares of the company’s stock valued at $2,557,000 after acquiring an additional 9,694 shares during the last quarter. Finally, Rivernorth Capital Management LLC grew its position in Howard Hughes by 4.3% in the first quarter. Rivernorth Capital Management LLC now owns 149,204 shares of the company’s stock valued at $9,439,000 after acquiring an additional 6,204 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

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.