Howard Hughes (NYSE:HHH) Lowered to Sell Rating by Wall Street Zen

Key Points

• Howard Hughes' stock rating has been dropped from "hold" to "sell" by Wall Street Zen, indicating a negative outlook for the company.
• Other analysts have also revised their target prices, with Piper Sandler lowering it from $105 to $85 and JPMorgan adjusting it from $82 to $76.
• The company reported a 27.3% increase in quarterly revenue year-over-year, reaching $199.33 million, with earnings per share beating expectations.

Howard Hughes (NYSE:HHH - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other analysts have also recently issued reports about the company. Piper Sandler dropped their target price on Howard Hughes from $105.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. JPMorgan Chase & Co. cut Howard Hughes from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $82.00 to $76.00 in a report on Monday, June 23rd. Finally, BMO Capital Markets reduced their price target on 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 Stock Performance

Shares of Howard Hughes stock traded down $0.69 on Friday, reaching $70.40. 523,367 shares of the stock were exchanged, compared to its average volume of 475,350. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.84. Howard Hughes has a twelve month low of $61.40 and a twelve month high of $87.77. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.40 and a beta of 1.22. The business has a 50 day moving average price of $69.12 and a two-hundred day moving average price of $70.83.

Hedge Funds Weigh In On Howard Hughes

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in shares of Howard Hughes in the fourth quarter worth about $511,000. Handelsbanken Fonder AB grew its position in shares of Howard Hughes by 37.6% during the 1st quarter. Handelsbanken Fonder AB now owns 19,758 shares of the company's stock valued at $1,464,000 after buying an additional 5,400 shares during the last quarter. LDR Capital Management LLC raised its stake in Howard Hughes by 25.2% during the first quarter. LDR Capital Management LLC now owns 31,321 shares of the company's stock worth $2,320,000 after acquiring an additional 6,306 shares during the period. Teacher Retirement System of Texas acquired a new stake in Howard Hughes during the first quarter worth about $353,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Howard Hughes in the fourth quarter valued at approximately $497,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.