JPMorgan Chase & Co. Cuts Howard Hughes (NYSE:HHH) Price Target to $84.00

Howard Hughes (NYSE:HHH) had its price target cut by JPMorgan Chase & Co. from $90.00 to $84.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 40.02% from the company’s current price.

Separately, TheStreet raised Howard Hughes from a “d+” rating to a “c-” rating in a research note on Friday, December 22nd.

Howard Hughes Stock Down 2.6 %

NYSE HHH traded down $1.58 during trading hours on Tuesday, hitting $59.99. 102,876 shares of the company traded hands, compared to its average volume of 284,727. The business’s 50-day moving average is $73.35 and its 200-day moving average is $75.14. Howard Hughes has a twelve month low of $59.63 and a twelve month high of $86.72. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -5.40 and a beta of 1.48.

Howard Hughes (NYSE:HHH) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.44 by $0.25. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. The firm had revenue of $335.84 million during the quarter, compared to analysts’ expectations of $318.32 million. Sell-side analysts anticipate that Howard Hughes will post 3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Howard Hughes news, insider Heath Melton sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $72.95, for a total transaction of $140,501.70. Following the completion of the sale, the insider now directly owns 9,274 shares of the company’s stock, valued at approximately $676,538.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.00% of the company’s stock.

Hedge Funds Weigh In On Howard Hughes

Institutional investors have recently modified their holdings of the business. Treasurer of the State of North Carolina grew its holdings in Howard Hughes by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 14,926 shares of the company’s stock valued at $1,277,000 after purchasing an additional 140 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Howard Hughes by 5.6% during the first quarter. Beech Hill Advisors Inc. now owns 6,650 shares of the company’s stock worth $483,000 after acquiring an additional 350 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Howard Hughes by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,812 shares of the company’s stock worth $2,038,000 after acquiring an additional 409 shares in the last quarter. Karpas Strategies LLC lifted its position in shares of Howard Hughes by 2.1% during the fourth quarter. Karpas Strategies LLC now owns 20,104 shares of the company’s stock worth $1,720,000 after acquiring an additional 422 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Howard Hughes during the fourth quarter worth $38,000. 93.83% of the stock is owned by 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.