Howard Hughes (NYSE:HHH) Price Target Lowered to $85.00 at Piper Sandler

Howard Hughes (NYSE:HHH - Get Free Report) had its price target lowered by investment analysts at Piper Sandler from $105.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 24.66% from the company's previous close.

A number of other research analysts have also commented on HHH. JPMorgan Chase & Co. lowered their price objective on Howard Hughes from $84.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. BMO Capital Markets dropped their price objective on Howard Hughes from $85.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th.

Howard Hughes Trading Down 0.1%

Shares of HHH stock traded down $0.04 during mid-day trading on Friday, reaching $68.19. The company's stock had a trading volume of 185,895 shares, compared to its average volume of 348,982. Howard Hughes has a 12-month low of $59.83 and a 12-month high of $87.77. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $3.44 billion, a PE ratio of 45.16 and a beta of 1.21. The company's 50 day simple moving average is $69.00 and its 200-day simple moving average is $74.83.

Howard Hughes (NYSE:HHH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 earnings per share 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 the consensus estimate of $187.43 million. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. The firm's quarterly revenue was up 27.3% on a year-over-year basis. On average, research analysts predict that Howard Hughes will post 3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Egerton Capital UK LLP lifted its holdings in Howard Hughes by 169.5% during the first quarter. Egerton Capital UK LLP now owns 1,196,288 shares of the company's stock valued at $88,621,000 after purchasing an additional 752,325 shares during the last quarter. Norges Bank purchased a new stake in Howard Hughes in the fourth quarter worth about $29,287,000. T. Rowe Price Investment Management Inc. boosted its stake in Howard Hughes by 48.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 828,317 shares of the company's stock worth $63,715,000 after acquiring an additional 269,402 shares in the last quarter. River Road Asset Management LLC raised its holdings in Howard Hughes by 235.9% in the fourth quarter. River Road Asset Management LLC now owns 312,566 shares of the company's stock worth $24,043,000 after buying an additional 219,514 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Howard Hughes by 50.3% in the fourth quarter. American Century Companies Inc. now owns 624,769 shares of the company's stock worth $48,057,000 after acquiring an additional 209,217 shares during the period. 93.83% of the stock is owned by 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.