Anywhere Real Estate (NYSE:HOUS) Sees Strong Trading Volume After Analyst Upgrade

Key Points

• Anywhere Real Estate Inc. (NYSE:HOUS) experienced a significant increase in trading volume, surging by 130% after Barclays upgraded its rating to equal weight with a new price target of $11.00.
• Despite the upgrade, the stock has mixed ratings from analysts, with some describing it as a "hold" and others as a "sell." The average target price across analysts is $9.13.
• In their latest quarterly earnings, Anywhere Real Estate reported earnings of $0.32 per share, missing expectations, and revenues of $1.68 billion, falling short of the anticipated $1.77 billion.

Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report) saw unusually-high trading volume on Wednesday after Barclays upgraded the stock from a strong sell rating to an equal weight rating. Barclays now has a $11.00 price target on the stock, up from their previous price target of $3.50. Approximately 3,202,778 shares were traded during trading, an increase of 130% from the previous session's volume of 1,393,381 shares.The stock last traded at $10.67 and had previously closed at $10.46.

Several other analysts have also recently commented on HOUS. Wall Street Zen cut shares of Anywhere Real Estate from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. upgraded shares of Anywhere Real Estate from an "underweight" rating to a "neutral" rating and set a $10.00 target price for the company in a research note on Monday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.13.

Institutional Trading of Anywhere Real Estate

Hedge funds have recently modified their holdings of the company. Ballentine Partners LLC bought a new position in Anywhere Real Estate during the 1st quarter worth $39,000. May Hill Capital LLC bought a new position in shares of Anywhere Real Estate during the 2nd quarter worth about $40,000. Avantax Advisory Services Inc. acquired a new position in Anywhere Real Estate during the first quarter worth $43,000. Pallas Capital Advisors LLC bought a new stake in Anywhere Real Estate during the first quarter worth $52,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Anywhere Real Estate in the 2nd quarter worth approximately $53,000. 97.56% of the stock is currently owned by institutional investors and hedge funds.

Anywhere Real Estate Trading Up 2.4%

The firm's 50-day simple moving average is $5.82 and its 200 day simple moving average is $4.33. The firm has a market cap of $1.20 billion, a P/E ratio of -10.90 and a beta of 1.66. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.51.

Anywhere Real Estate (NYSE:HOUS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Anywhere Real Estate had a negative net margin of 1.87% and a negative return on equity of 4.57%. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the business posted $0.27 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts expect that Anywhere Real Estate Inc. will post 0.05 earnings per share for the current year.

Anywhere Real Estate Company Profile

Anywhere Real Estate Inc, through its subsidiaries, provides residential real estate services in the United States and internationally. The company operates through three segments: Anywhere Brands, Anywhere Advisors, and Anywhere Integrated Services. The Anywhere Brands segment franchises the Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, and Sotheby's International Realty brand names.

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