JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Howard Hughes (NYSE:HHH) Stock

Howard Hughes (NYSE:HHH) had its price target raised by JPMorgan Chase & Co. from $76.00 to $79.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.22% from the stock’s current price.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Howard Hughes from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Finally, Zacks Research raised shares of Howard Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Howard Hughes currently has an average rating of “Reduce” and a consensus price target of $79.00.

Howard Hughes Stock Down 2.3%

NYSE:HHH opened at $70.40 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 34.51 and a beta of 1.12. Howard Hughes has a one year low of $61.01 and a one year high of $91.07. The stock has a 50-day simple moving average of $67.61 and a 200 day simple moving average of $70.68.

Howard Hughes (NYSE:HHH) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. Howard Hughes had a net margin of 8.04% and a return on equity of 5.41%. The firm had revenue of $235.92 million during the quarter. During the same period in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Sell-side analysts predict that Howard Hughes will post 3.01 EPS for the current fiscal year.

Insider Activity

In other Howard Hughes news, insider James Carman sold 1,500 shares of Howard Hughes stock in a transaction 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 48.00% of the stock is owned by company insiders.

Institutional Trading of Howard Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its stake in Howard Hughes by 41.5% in the fourth quarter. Signaturefd LLC now owns 423 shares of the company’s stock valued at $34,000 after purchasing an additional 124 shares in the last quarter. Huntington National Bank raised its stake in shares of Howard Hughes by 134.1% during the 4th quarter. Huntington National Bank now owns 494 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Howard Hughes by 191.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the company’s stock valued at $35,000 after buying an additional 339 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Howard Hughes during the 4th quarter valued at about $43,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Howard Hughes in the 4th quarter valued at approximately $43,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

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.