Five Point (NYSE:FPH) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Five Point (NYSE:FPH) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $9.00 target price on the stock.

According to Zacks, “Five Point Holdings LLC, designs and develops mixed-use, master-planned communities primarily in coastal California. It offer homes, commercial, retail, educational and recreational elements as well as civic areas, parks and open spaces. The company’s communities consist of Great Park Neighborhoods(R) in Irvine, Newhall Ranch(R) near Valencia and The San Francisco Shipyard/Candlestick Point in the City of San Francisco. Five Point Holdings LLC is headquartered in Aliso Viejo, California. “

Several other analysts have also issued reports on FPH. Royal Bank of Canada set a €215.00 ($250.00) price objective on shares of Munchener Ruckvers and gave the company a buy rating in a report on Tuesday, March 19th. TheStreet upgraded shares of WillScot from a d- rating to a c- rating in a research note on Wednesday, May 8th. JMP Securities boosted their price target on shares of Stifel Financial from $61.00 to $65.00 and gave the stock a market outperform rating in a research note on Monday, April 8th. Finally, Deutsche Bank lowered shares of CROWN CASTLE IN/SH SH from a buy rating to a hold rating and set a $121.00 price target on the stock. in a research note on Monday, March 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $9.60.

Shares of FPH opened at $7.82 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -21.72 and a beta of 0.99. Five Point has a 12-month low of $6.64 and a 12-month high of $12.39. The firm has a 50-day moving average of $7.57.

In other Five Point news, major shareholder Anchorage Capital Group, L.L.C sold 3,200,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $7.95, for a total transaction of $25,440,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.58% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in shares of Five Point by 17.7% during the fourth quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock worth $104,000 after buying an additional 2,256 shares during the period. First Manhattan Co. increased its stake in shares of Five Point by 50.0% during the first quarter. First Manhattan Co. now owns 15,000 shares of the company’s stock worth $108,000 after buying an additional 5,000 shares during the period. TD Asset Management Inc. purchased a new stake in shares of Five Point during the first quarter worth approximately $118,000. Cubic Asset Management LLC increased its stake in shares of Five Point by 7.4% during the first quarter. Cubic Asset Management LLC now owns 37,060 shares of the company’s stock worth $267,000 after buying an additional 2,550 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Five Point by 11.1% during the fourth quarter. Geode Capital Management LLC now owns 50,000 shares of the company’s stock worth $347,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 33.57% of the company’s stock.

Five Point Company Profile

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. The company operates through four segments: Newhall, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates properties; and provides development management services.

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