Howard Hughes (NYSE:HHH) Price Target Cut to $82.00 by Analysts at JPMorgan Chase & Co.

Howard Hughes (NYSE:HHH) had its price target cut by JPMorgan Chase & Co. from $84.00 to $82.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 20.46% from the stock’s previous close.

Howard Hughes Price Performance

Shares of HHH stock opened at $68.07 on Tuesday. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 45.08 and a beta of 1.14. The stock has a fifty day simple moving average of $71.58 and a two-hundred day simple moving average of $76.15. Howard Hughes has a twelve month low of $59.83 and a twelve month high of $87.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.98.

Howard Hughes (NYSE:HHH) last released its earnings results on Wednesday, February 26th. The company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.40. The company had revenue of $983.59 million during the quarter, compared to the consensus estimate of $949.18 million. Howard Hughes had a net margin of 6.57% and a return on equity of 3.38%. On average, analysts predict that Howard Hughes will post 3.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Howard Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rule One Partners LLC purchased a new stake in Howard Hughes during the 3rd quarter worth about $12,544,000. Boyar Asset Management Inc. grew its holdings in shares of Howard Hughes by 64.8% during the third quarter. Boyar Asset Management Inc. now owns 10,473 shares of the company’s stock worth $811,000 after purchasing an additional 4,119 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Howard Hughes during the third quarter worth $46,000. JPMorgan Chase & Co. increased its position in shares of Howard Hughes by 225.6% in the third quarter. JPMorgan Chase & Co. now owns 487,092 shares of the company’s stock worth $37,716,000 after purchasing an additional 337,514 shares during the period. Finally, Sugar Maple Asset Management LLC acquired a new stake in Howard Hughes during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors 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.