LSV Asset Management Has $17.44 Million Position in Beazer Homes USA, Inc. (BZH)
LSV Asset Management increased its holdings in Beazer Homes USA, Inc. (NYSE:BZH) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,660,504 shares of the construction company’s stock after acquiring an additional 20,300 shares during the period. LSV Asset Management owned approximately 4.93% of Beazer Homes USA worth $17,435,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Beazer Homes USA by 4.3% during the second quarter. BlackRock Inc. now owns 3,106,146 shares of the construction company’s stock worth $45,815,000 after buying an additional 127,639 shares during the period. Donald Smith & CO. Inc. boosted its position in shares of Beazer Homes USA by 19.0% during the second quarter. Donald Smith & CO. Inc. now owns 2,139,068 shares of the construction company’s stock worth $31,551,000 after buying an additional 342,001 shares during the period. Towle & Co. purchased a new position in shares of Beazer Homes USA during the third quarter worth $19,549,000. Royce & Associates LP boosted its position in shares of Beazer Homes USA by 18.4% during the second quarter. Royce & Associates LP now owns 987,477 shares of the construction company’s stock worth $14,565,000 after buying an additional 153,500 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Beazer Homes USA by 1.1% during the second quarter. Northern Trust Corp now owns 839,874 shares of the construction company’s stock worth $12,388,000 after buying an additional 9,447 shares during the period. Institutional investors and hedge funds own 88.17% of the company’s stock.
Several research analysts have recently commented on the company. Wedbush set a $17.00 price target on Beazer Homes USA and gave the stock a “buy” rating in a research report on Wednesday, November 14th. ValuEngine cut Beazer Homes USA from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 25th. Credit Suisse Group reduced their price objective on Beazer Homes USA from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, September 26th. JPMorgan Chase & Co. cut Beazer Homes USA from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $13.00 in a research note on Friday, September 21st. Finally, Zacks Investment Research cut Beazer Homes USA from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Beazer Homes USA presently has an average rating of “Hold” and an average target price of $14.50.
Beazer Homes USA (NYSE:BZH) last announced its quarterly earnings data on Tuesday, November 13th. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.21. The business had revenue of $761.50 million for the quarter, compared to analysts’ expectations of $694.80 million. Beazer Homes USA had a positive return on equity of 12.11% and a negative net margin of 2.15%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. As a group, analysts anticipate that Beazer Homes USA, Inc. will post 1.95 earnings per share for the current year.
Beazer Homes USA announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 17.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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Beazer Homes USA Profile
Beazer Homes USA, Inc operates as a homebuilder in the United States. The company designs, constructs, and sells single-family and multi-family homes for entry-level, move-up, or retirement-oriented home buyers under the Beazer Homes brand name. It sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Delaware, Indiana, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.
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