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

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

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Piper Sandler reduced their price target on shares of Howard Hughes from $100.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Weiss Ratings upgraded shares of Howard Hughes from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Howard Hughes presently has an average rating of “Moderate Buy” and an average price target of $81.00.

Howard Hughes Price Performance

Shares of NYSE HHH opened at $68.30 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.35. Howard Hughes has a twelve month low of $60.09 and a twelve month high of $91.07. The stock has a 50 day moving average of $66.88 and a two-hundred day moving average of $66.47. The stock has a market cap of $4.08 billion, a P/E ratio of 14.67 and a beta of 1.14.

Howard Hughes (NYSE:HHH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $2.19. The business had revenue of $1.12 billion during the quarter. Howard Hughes had a return on equity of 7.51% and a net margin of 12.31%. Howard Hughes’s revenue was up 330.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share. On average, research analysts forecast that Howard Hughes will post 4.47 earnings per share for the current year.

Insider Transactions at Howard Hughes

In related news, COO Andrew D. Davis purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average price of $64.49 per share, with a total value of $64,490.00. Following the completion of the acquisition, the chief operating officer directly owned 32,530 shares in the company, valued at $2,097,859.70. This represents a 3.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Tighe sold 13,495 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $67.25, for a total value of $907,538.75. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 47.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HHH. Dimensional Fund Advisors LP increased its position 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 worth $178,549,000 after purchasing an additional 208,617 shares during the period. BlackRock Inc. purchased 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 shares of Howard Hughes in the second quarter valued at approximately $71,691,000. Flat Footed LLC purchased a new stake in shares of Howard Hughes in the second quarter valued at approximately $44,353,683. Finally, Bank of America Corp DE purchased a new stake in shares of Howard Hughes in the second quarter valued at approximately $21,031,000. 93.83% of the stock is currently 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.