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

Zacks Research downgraded shares of Howard Hughes (NYSE:HHH) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Howard Hughes from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Howard Hughes in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Howard Hughes from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Sell” and an average price target of $79.00.

Howard Hughes Stock Down 0.9%

Shares of HHH opened at $65.89 on Tuesday. The firm has a market cap of $3.93 billion, a P/E ratio of 32.30 and a beta of 1.12. Howard Hughes has a 12-month low of $61.01 and a 12-month high of $91.07. The company’s 50-day moving average price is $67.81 and its 200 day moving average price is $70.25. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.97.

Howard Hughes (NYSE:HHH) last posted its earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The company 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 quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. On average, sell-side analysts forecast that Howard Hughes will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other Howard Hughes news, insider James Carman sold 1,500 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $64.20, for a total transaction of $96,300.00. Following the sale, the insider directly owned 22,096 shares in the company, valued at $1,418,563.20. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 48.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in Howard Hughes in the 4th quarter valued at about $511,000. M&T Bank Corp acquired a new position in shares of Howard Hughes during the fourth quarter worth about $4,208,000. Annex Advisory Services LLC grew its position in shares of Howard Hughes by 1,117.5% during the fourth quarter. Annex Advisory Services LLC now owns 181,388 shares of the company’s stock worth $14,469,000 after buying an additional 166,489 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Howard Hughes by 90.5% during the fourth quarter. SG Americas Securities LLC now owns 48,992 shares of the company’s stock worth $3,908,000 after buying an additional 23,276 shares during the period. Finally, Walleye Partners LLC purchased a new stake in shares of Howard Hughes during the fourth quarter worth approximately $4,549,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.