JPMorgan Chase & Co. Trims Howard Hughes (NYSE:HHH) Target Price to $84.00

Howard Hughes (NYSE:HHH - Get Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $90.00 to $84.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 40.63% from the company's current price.

Separately, TheStreet raised Howard Hughes from a "d+" rating to a "c-" rating in a research report on Friday, December 22nd.

Howard Hughes Price Performance

NYSE:HHH traded down $1.84 during trading hours on Tuesday, reaching $59.73. The stock had a trading volume of 628,817 shares, compared to its average volume of 292,595. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.60 and a current ratio of 1.60. Howard Hughes has a 52 week low of $59.49 and a 52 week high of $86.72. The company has a 50 day moving average price of $72.99 and a two-hundred day moving average price of $75.03. The stock has a market capitalization of $3.00 billion, a PE ratio of -5.37 and a beta of 1.48.

Howard Hughes (NYSE:HHH - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. The firm had revenue of $335.84 million for the quarter, compared to the consensus estimate of $318.32 million. Howard Hughes had a negative return on equity of 0.62% and a negative net margin of 53.88%. As a group, sell-side analysts anticipate that Howard Hughes will post 3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Heath Melton sold 1,926 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $72.95, for a total transaction of $140,501.70. Following the completion of the sale, the insider now directly owns 9,274 shares in the company, valued at approximately $676,538.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 33.00% of the company's stock.

Institutional Investors Weigh In On Howard Hughes

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in Howard Hughes during the 3rd quarter valued at about $359,181,000. Baillie Gifford & Co. acquired a new position in Howard Hughes during the 3rd quarter valued at about $188,891,000. Principal Financial Group Inc. acquired a new position in shares of Howard Hughes in the third quarter valued at about $156,887,000. Pershing Square Capital Management L.P. increased its holdings in shares of Howard Hughes by 12.2% in the fourth quarter. Pershing Square Capital Management L.P. now owns 18,852,064 shares of the company's stock valued at $1,612,794,000 after purchasing an additional 2,045,156 shares during the period. Finally, New South Capital Management Inc. acquired a new position in shares of Howard Hughes in the third quarter valued at about $47,706,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

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.