Howard Hughes (NYSE:HHH) Raised to “Strong-Buy” at Zacks Research

Howard Hughes (NYSE:HHH) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

HHH has been the subject of a number of other reports. Piper Sandler dropped their target price on shares of Howard Hughes from $100.00 to $83.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. boosted their target price on Howard Hughes from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.00.

Howard Hughes Stock Performance

Shares of HHH opened at $68.30 on Tuesday. The company has a 50-day simple moving average of $66.88 and a 200-day simple moving average of $66.47. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $4.08 billion, a PE ratio of 14.67 and a beta of 1.14. Howard Hughes has a 52-week low of $60.09 and a 52-week high of $91.07.

Howard Hughes (NYSE:HHH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $0.49 by $2.19. The firm had revenue of $1.12 billion during the quarter. Howard Hughes had a net margin of 12.31% and a return on equity of 7.51%. The firm’s revenue for the quarter was up 330.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) EPS. Equities research analysts predict that Howard Hughes will post 4.47 earnings per share for the current fiscal year.

Insider Activity

In other Howard Hughes news, COO Andrew D. Davis bought 1,000 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was bought at an average price of $64.49 per share, for a total transaction of $64,490.00. Following the completion of the transaction, the chief operating officer owned 32,530 shares in the company, valued at approximately $2,097,859.70. The trade was a 3.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Tighe sold 13,495 shares of Howard Hughes stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $67.25, for a total transaction of $907,538.75. The disclosure for this sale is available in the SEC filing. Company insiders own 47.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HHH. BlackRock Inc. acquired a new position in shares of Howard Hughes during the 2nd quarter worth approximately $115,766,000. Donald Smith & CO. Inc. purchased a new stake in Howard Hughes in the 2nd quarter valued at approximately $71,691,000. Flat Footed LLC acquired a new stake in Howard Hughes during the 2nd quarter valued at $44,353,683. Bank of America Corp DE acquired a new stake in Howard Hughes during the 2nd quarter valued at $21,031,000. Finally, Dimensional Fund Advisors LP grew its holdings in Howard Hughes by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,822,522 shares of the company’s stock valued at $178,549,000 after buying an additional 208,617 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

About Howard Hughes

Howard Hughes Holdings Inc (NYSE: HHH) is a real estate development and management company focused primarily on master planned communities and mixed-use properties. The company develops residential neighborhoods and supporting infrastructure while also owning and operating commercial, retail, office, multifamily, hospitality and entertainment assets.

Its portfolio includes master planned communities such as The Woodlands, Bridgeland and The Woodlands Hills in the Houston area; Summerlin in the Las Vegas region; Ward Village in Honolulu; and Teravalis in the Phoenix metropolitan area.