Howard Hughes (NYSE:HHH) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Howard Hughes (NYSE:HHH - Free Report) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage currently has $76.00 price objective on the stock, down from their prior price objective of $82.00.

Several other research firms have also recently issued reports on HHH. Piper Sandler decreased their price objective on shares of Howard Hughes from $105.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. BMO Capital Markets lowered their price objective on shares of Howard Hughes from $85.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Howard Hughes Price Performance

Shares of NYSE:HHH traded up $1.34 during trading on Monday, reaching $67.31. The stock had a trading volume of 464,681 shares, compared to its average volume of 369,655. Howard Hughes has a 1-year low of $59.83 and a 1-year high of $87.77. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.41 and a current ratio of 1.41. The business has a fifty day moving average price of $68.56 and a 200-day moving average price of $72.60. The stock has a market cap of $3.39 billion, a PE ratio of 12.92 and a beta of 1.23.

Howard Hughes (NYSE:HHH - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $199.33 million for the quarter, compared to analyst estimates of $187.43 million. Howard Hughes had a net margin of 14.27% and a return on equity of 10.21%. The business's revenue was up 27.3% on a year-over-year basis. On average, equities analysts forecast that Howard Hughes will post 3.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Howard Hughes

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its stake in Howard Hughes by 910.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 394 shares of the company's stock worth $29,000 after buying an additional 355 shares during the period. National Bank of Canada FI acquired a new stake in Howard Hughes in the 1st quarter valued at approximately $37,000. Larson Financial Group LLC raised its stake in shares of Howard Hughes by 2,290.9% during the first quarter. Larson Financial Group LLC now owns 526 shares of the company's stock valued at $39,000 after purchasing an additional 504 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Howard Hughes in the 4th quarter worth approximately $40,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Howard Hughes by 14,500.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 876 shares of the company's stock worth $65,000 after acquiring an additional 870 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company's stock.

About Howard Hughes

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.