Beazer Homes USA, Inc. (NYSE:BZH – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $32.58 and last traded at $32.06, with a volume of 716350 shares changing hands. The stock had previously closed at $27.74.
The construction company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.54. Beazer Homes USA had a net margin of 8.54% and a return on equity of 21.32%. The business had revenue of $572.54 million for the quarter, compared to analysts’ expectations of $512.26 million. During the same period in the previous year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on BZH. StockNews.com began coverage on shares of Beazer Homes USA in a report on Thursday, May 18th. They issued a “hold” rating on the stock. B. Riley increased their target price on shares of Beazer Homes USA from $28.00 to $38.00 in a research report on Friday. Wedbush raised shares of Beazer Homes USA from a “neutral” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Wednesday, June 28th. Finally, Sidoti lowered Beazer Homes USA from a “buy” rating to a “neutral” rating and boosted their target price for the company from $23.00 to $31.00 in a research note on Wednesday, July 12th.
Hedge Funds Weigh In On Beazer Homes USA
A number of large investors have recently made changes to their positions in BZH. Price T Rowe Associates Inc. MD boosted its stake in Beazer Homes USA by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,387 shares of the construction company’s stock worth $324,000 after purchasing an additional 489 shares during the period. Captrust Financial Advisors increased its holdings in Beazer Homes USA by 60.3% during the 2nd quarter. Captrust Financial Advisors now owns 2,618 shares of the construction company’s stock worth $32,000 after acquiring an additional 985 shares during the period. Voya Investment Management LLC lifted its stake in Beazer Homes USA by 2.9% in the 4th quarter. Voya Investment Management LLC now owns 34,963 shares of the construction company’s stock worth $446,000 after purchasing an additional 986 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Beazer Homes USA by 15.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,827 shares of the construction company’s stock valued at $124,000 after purchasing an additional 1,036 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Beazer Homes USA by 9.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,062 shares of the construction company’s stock valued at $167,000 after purchasing an additional 1,116 shares in the last quarter. 77.62% of the stock is owned by institutional investors.
Beazer Homes USA Stock Up 17.6 %
The company has a market cap of $1.02 billion, a P/E ratio of 4.91 and a beta of 2.25. The company has a debt-to-equity ratio of 0.99, a current ratio of 16.37 and a quick ratio of 2.46. The company has a 50 day moving average of $24.70 and a 200-day moving average of $19.13.
About Beazer Homes USA
Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.
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