JPMorgan Chase & Co. Upgrades Anywhere Real Estate (NYSE:HOUS) to Neutral

Key Points

• JPMorgan Chase & Co. upgraded Anywhere Real Estate (NYSE: HOUS) from an "underweight" to a "neutral" rating, with a price target of $10.00 that indicates a potential downside of 7.19% from its current price.
• Shares of Anywhere Real Estate experienced a significant increase, trading up by 52.4%, hitting $10.78 during trading hours on Monday.
• Institutional investors own 97.56% of Anywhere Real Estate's stock, with notable investments from firms like Charles Schwab Investment Management and Goldman Sachs Group.

Anywhere Real Estate (NYSE:HOUS - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a $10.00 price target on the stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 7.19% from the stock's current price.

HOUS has been the subject of several other research reports. Barclays lifted their price objective on Anywhere Real Estate from $3.00 to $3.50 and gave the stock an "underweight" rating in a report on Wednesday, July 30th. Wall Street Zen lowered Anywhere Real Estate from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Anywhere Real Estate has an average rating of "Reduce" and an average price target of $6.00.

Anywhere Real Estate Stock Up 52.4%

Shares of NYSE HOUS traded up $3.71 during trading hours on Monday, hitting $10.78. The company had a trading volume of 14,701,709 shares, compared to its average volume of 1,253,385. The firm's 50 day moving average is $5.56 and its 200-day moving average is $4.24. Anywhere Real Estate has a 1-year low of $2.71 and a 1-year high of $12.03. The stock has a market capitalization of $1.21 billion, a P/E ratio of -10.96 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 announced 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 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 period in the previous year, the business posted $0.27 earnings per share. On average, analysts expect that Anywhere Real Estate will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anywhere Real Estate

A number of institutional investors have recently modified their holdings of HOUS. Aristeia Capital L.L.C. bought a new stake in Anywhere Real Estate in the first quarter valued at approximately $345,000. Nuveen LLC purchased a new position in shares of Anywhere Real Estate during the first quarter valued at approximately $1,103,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Anywhere Real Estate by 111.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,280,470 shares of the company's stock valued at $7,594,000 after purchasing an additional 1,200,823 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Anywhere Real Estate in the first quarter worth about $43,000. Finally, Goldman Sachs Group Inc. boosted its stake in Anywhere Real Estate by 52.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,682,561 shares of the company's stock valued at $5,603,000 after buying an additional 582,402 shares during the last quarter. Institutional investors own 97.56% of the company's stock.

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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