Anywhere Real Estate (NYSE:HOUS) Sets New 1-Year High After Analyst Upgrade

Key Points

• Anywhere Real Estate Inc. hit a new 52-week high after JPMorgan Chase & Co. upgraded its rating to neutral with a price target of $10.00, leading to a peak trading price of $12.03.
• Despite the recent upgrade, other analysts have mixed sentiments with Barclays setting a lower price target of $3.50 and some reports rating it as a "sell."
• Institutional investors own approximately 97.56% of Anywhere Real Estate's stock, with significant increases in holdings noted among various funds during the second quarter.

Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. upgraded the stock from an underweight rating to a neutral rating. JPMorgan Chase & Co. now has a $10.00 price target on the stock. Anywhere Real Estate traded as high as $12.03 and last traded at $10.30, with a volume of 30963872 shares traded. The stock had previously closed at $7.07.

Several other equities research analysts have also recently issued reports on the company. Barclays boosted their price target on Anywhere Real Estate from $3.00 to $3.50 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. Wall Street Zen cut Anywhere Real Estate from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Anywhere Real Estate has a consensus rating of "Reduce" and a consensus price target of $6.00.

Institutional Trading of Anywhere Real Estate

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its holdings in Anywhere Real Estate by 2.6% in the second quarter. Hsbc Holdings PLC now owns 108,485 shares of the company's stock valued at $404,000 after purchasing an additional 2,705 shares during the period. Ballentine Partners LLC increased its holdings in Anywhere Real Estate by 25.5% in the second quarter. Ballentine Partners LLC now owns 14,822 shares of the company's stock valued at $54,000 after purchasing an additional 3,014 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Anywhere Real Estate by 9.6% in the second quarter. The Manufacturers Life Insurance Company now owns 38,725 shares of the company's stock valued at $140,000 after purchasing an additional 3,387 shares during the period. Federated Hermes Inc. boosted its position in Anywhere Real Estate by 6.6% during the second quarter. Federated Hermes Inc. now owns 78,783 shares of the company's stock valued at $285,000 after acquiring an additional 4,898 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Anywhere Real Estate by 4.4% during the second quarter. Bank of Montreal Can now owns 132,191 shares of the company's stock valued at $479,000 after acquiring an additional 5,630 shares during the last quarter. 97.56% of the stock is currently owned by institutional investors and hedge funds.

Anywhere Real Estate Stock Up 45.7%

The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.51. The firm has a market cap of $1.15 billion, a P/E ratio of -10.51 and a beta of 1.66. The stock's 50-day simple moving average is $5.68 and its 200 day simple moving average is $4.28.

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

About Anywhere Real Estate

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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