Anywhere Real Estate (NYSE:HOUS) Shares Gap Up Following Analyst Upgrade

Key Points

• Anywhere Real Estate shares gapped up significantly after JPMorgan Chase upgraded the stock from an underweight rating to neutral, with the price target set at $10.00.
• Following the analyst upgrade, the stock opened at $11.10, compared to its previous close of $7.07, and last traded at $11.22 with over 11.6 million shares changing hands.
• Institutional investors hold a substantial 97.56% of the company's stock, with several funds recently increasing their positions in Anywhere Real Estate.

Shares of Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report) gapped up before the market opened on Monday after Barclays upgraded the stock from an underweight rating to an equal weight rating. The stock had previously closed at $7.07, but opened at $11.10. Barclays now has a $11.00 price target on the stock, up from their previous price target of $3.50. Anywhere Real Estate shares last traded at $11.22, with a volume of 11,635,542 shares changing hands.

Several other analysts have also issued reports on HOUS. Wall Street Zen lowered shares of Anywhere Real Estate from a "hold" rating to a "sell" rating in a research report 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 price target on the stock in a research report on Monday. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Anywhere Real Estate presently has a consensus rating of "Hold" and an average target price of $9.13.

Hedge Funds Weigh In On Anywhere Real Estate

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in Anywhere Real Estate by 2.6% in the 2nd 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 last quarter. Ballentine Partners LLC boosted its holdings in Anywhere Real Estate by 25.5% in the 2nd 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 last quarter. The Manufacturers Life Insurance Company boosted its holdings in Anywhere Real Estate by 9.6% in the 2nd 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 last quarter. Federated Hermes Inc. boosted its holdings in Anywhere Real Estate by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 78,783 shares of the company's stock valued at $285,000 after purchasing an additional 4,898 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Anywhere Real Estate by 4.4% in the 2nd quarter. Bank of Montreal Can now owns 132,191 shares of the company's stock valued at $479,000 after purchasing 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 0.1%

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -10.48 and a beta of 1.66. The firm's fifty day simple moving average is $5.68 and its two-hundred day simple moving average is $4.28.

Anywhere Real Estate (NYSE:HOUS - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts anticipate that Anywhere Real Estate Inc. will post 0.05 EPS for the current 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.