Wedbush Upgrades Beazer Homes USA (NYSE:BZH) to Outperform

Wedbush upgraded shares of Beazer Homes USA (NYSE:BZH) from a neutral rating to an outperform rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. Wedbush currently has $45.00 target price on the construction company’s stock, up from their prior target price of $41.00.

BZH has been the subject of a number of other reports. Oppenheimer initiated coverage on Beazer Homes USA in a research report on Friday, May 31st. They set an outperform rating and a $37.00 price objective for the company. StockNews.com lowered shares of Beazer Homes USA from a hold rating to a sell rating in a report on Monday, August 5th. Zelman & Associates lowered shares of Beazer Homes USA from a strong-buy rating to a hold rating in a research note on Monday, August 5th. Finally, B. Riley lowered their target price on shares of Beazer Homes USA from $38.00 to $37.00 and set a buy rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $39.67.

Beazer Homes USA Stock Performance

Beazer Homes USA stock opened at $30.80 on Thursday. The business has a 50 day moving average of $29.98 and a 200-day moving average of $29.39. The company has a market capitalization of $971.65 million, a P/E ratio of 5.95, a P/E/G ratio of 1.49 and a beta of 2.17. Beazer Homes USA has a 1 year low of $22.03 and a 1 year high of $34.89. The company has a debt-to-equity ratio of 0.91, a current ratio of 12.42 and a quick ratio of 0.92.

Beazer Homes USA (NYSE:BZH) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. Beazer Homes USA had a net margin of 6.63% and a return on equity of 12.61%. The firm had revenue of $595.68 million during the quarter, compared to the consensus estimate of $597.67 million. During the same quarter last year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Beazer Homes USA will post 4.2 earnings per share for the current year.

Insider Transactions at Beazer Homes USA

In related news, EVP Keith L. Belknap, Jr. sold 13,300 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $31.17, for a total value of $414,561.00. Following the completion of the sale, the executive vice president now directly owns 150,819 shares of the company’s stock, valued at approximately $4,701,028.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Keith L. Belknap, Jr. sold 13,462 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $30.73, for a total value of $413,687.26. Following the completion of the sale, the executive vice president now owns 164,119 shares in the company, valued at approximately $5,043,376.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Keith L. Belknap, Jr. sold 13,300 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.17, for a total transaction of $414,561.00. Following the transaction, the executive vice president now directly owns 150,819 shares in the company, valued at $4,701,028.23. The disclosure for this sale can be found here. Insiders own 6.99% of the company’s stock.

Hedge Funds Weigh In On Beazer Homes USA

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its position in Beazer Homes USA by 35.5% in the fourth quarter. Victory Capital Management Inc. now owns 39,525 shares of the construction company’s stock worth $1,336,000 after purchasing an additional 10,361 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Beazer Homes USA by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 589,533 shares of the construction company’s stock worth $19,920,000 after purchasing an additional 22,669 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Beazer Homes USA by 47.2% during the 4th quarter. Teacher Retirement System of Texas now owns 280,213 shares of the construction company’s stock worth $9,468,000 after purchasing an additional 89,848 shares during the period. USA Financial Formulas boosted its holdings in shares of Beazer Homes USA by 4,947.1% in the 4th quarter. USA Financial Formulas now owns 858 shares of the construction company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Beazer Homes USA by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 10,171 shares of the construction company’s stock valued at $344,000 after buying an additional 1,055 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Beazer Homes USA Company Profile

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 also 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.