Beazer Homes USA Inc. (BZH) Stock Rating Upgraded by Zacks Investment Research
Beazer Homes USA Inc. (NYSE:BZH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $16.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 18.69% from the company’s current price.
According to Zacks, “Beazer Homes USA, Inc. designs, builds and sells single family homes. The company designs homes to appeal primarily to entry-level and first move-up home buyers. Their objective is to provide customers with homes that incorporate quality and value. The company’s subsidiary, Beazer Mortgage, originates the mortgages for the company’s home buyers. “
Separately, FBN Securities cut Beazer Homes USA from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $13.50 to $11.50 in a report on Monday, October 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.70.
Beazer Homes USA (NYSE:BZH) opened at 13.48 on Tuesday. The stock has a market cap of $428.87 million, a price-to-earnings ratio of 93.61 and a beta of 2.88. Beazer Homes USA has a 52 week low of $6.07 and a 52 week high of $14.48. The firm’s 50 day moving average price is $11.42 and its 200-day moving average price is $9.95.
Beazer Homes USA (NYSE:BZH) last released its quarterly earnings results on Tuesday, November 15th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.70. The business had revenue of $632.10 million for the quarter, compared to the consensus estimate of $637.02 million. Beazer Homes USA had a net margin of 0.26% and a return on equity of 3.83%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. Analysts expect that Beazer Homes USA will post $0.97 EPS for the current year.
In other news, Director Brian C. Beazer bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were purchased at an average price of $12.99 per share, with a total value of $38,970.00. Following the completion of the acquisition, the director now directly owns 69,015 shares in the company, valued at $896,504.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian C. Beazer bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were purchased at an average cost of $12.48 per share, for a total transaction of $62,400.00. Following the acquisition, the director now owns 69,015 shares of the company’s stock, valued at $861,307.20. The disclosure for this purchase can be found here. Corporate insiders own 5.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in Beazer Homes USA by 14.7% in the third quarter. Acrospire Investment Management LLC now owns 10,115 shares of the company’s stock valued at $118,000 after buying an additional 1,300 shares during the period. Verition Fund Management LLC acquired a new position in Beazer Homes USA during the third quarter valued at about $143,000. BlackRock Inc. raised its position in Beazer Homes USA by 503.7% in the second quarter. BlackRock Inc. now owns 13,729 shares of the company’s stock valued at $107,000 after buying an additional 11,455 shares during the period. Fox Run Management L.L.C. acquired a new position in Beazer Homes USA during the third quarter valued at about $170,000. Finally, Neuberger Berman Group LLC acquired a new position in Beazer Homes USA during the second quarter valued at about $126,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.
About Beazer Homes USA
Beazer Homes USA, Inc is a diversified homebuilder with operations in 16 states within three geographic regions in the United States: West, East and Southeast. The Company’s homes are designed to appeal to homeowners at various price points across various demographic segments and are generally offered for sale in advance of their construction.
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