Howard Hughes (NYSE:HHH) Cut to Strong Sell at Zacks Research

by · The Cerbat Gem

Howard Hughes (NYSE:HHH – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on HHH. Weiss Ratings reissued a “sell (d)” rating on shares of Howard Hughes in a research report on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus price target of $79.00.

Get Our Latest Research Report on HHH

Howard Hughes Stock Down 0.4%

Shares of Howard Hughes stock opened at $66.32 on Tuesday. Howard Hughes has a 1 year low of $61.01 and a 1 year high of $91.07. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 32.51 and a beta of 1.12. The company has a 50-day moving average of $67.78 and a 200 day moving average of $70.34. 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 – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $235.92 million for the quarter. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, sell-side analysts anticipate that Howard Hughes will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider James Carman sold 1,500 shares of Howard Hughes stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through this link. Insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Howard Hughes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in Howard Hughes in the 4th quarter valued at $511,000. Royal Bank of Canada raised its holdings in 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 during the period. Millennium Management LLC increased its position in Howard Hughes by 2,368.8% during the first quarter. Millennium Management LLC now owns 165,926 shares of the company’s stock valued at $12,292,000 after acquiring an additional 159,205 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Howard Hughes by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 118,589 shares of the company’s stock valued at $8,785,000 after acquiring an additional 25,001 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of Howard Hughes in the 1st quarter worth about $254,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Howard Hughes Company Profile

(Get Free Report)

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.

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