Green Brick Partners (NASDAQ:GRBK) Upgraded at Zacks Investment Research

Green Brick Partners (NASDAQ:GRBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $12.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.15% from the stock’s current price.

According to Zacks, “Green Brick Partners, Inc. is involved in the land acquisition and development, entitlements, design, construction, marketing and sale of residential projects. It operates primarily in Dallas, Fort Worth, Texas, Atlanta and Georgia. Green Brick Partners, Inc., formerly known as BioFuel Energy Corp, is based in Plano, Texas. “

A number of other equities research analysts have also recently issued reports on the company. TheStreet cut Green Brick Partners from a “b-” rating to a “c” rating in a research note on Monday, August 26th. BTIG Research upgraded Green Brick Partners from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, September 23rd. Finally, BidaskClub raised Green Brick Partners from a “hold” rating to a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Green Brick Partners currently has a consensus rating of “Buy” and a consensus price target of $10.43.

GRBK stock opened at $10.70 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 8.93. The stock has a market capitalization of $540.90 million, a price-to-earnings ratio of 7.81 and a beta of 1.29. Green Brick Partners has a 1 year low of $6.65 and a 1 year high of $10.99. The stock’s fifty day moving average is $10.28 and its two-hundred day moving average is $9.45.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. The company had revenue of $183.51 million for the quarter, compared to analysts’ expectations of $165.00 million. Green Brick Partners had a return on equity of 12.60% and a net margin of 7.66%. As a group, analysts predict that Green Brick Partners will post 1.03 EPS for the current fiscal year.

In other news, CAO Summer Loveland sold 5,300 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.63, for a total transaction of $56,339.00. Following the transaction, the chief accounting officer now directly owns 5,209 shares of the company’s stock, valued at $55,371.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 52.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Green Brick Partners by 5.4% during the second quarter. Swiss National Bank now owns 47,200 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 2,400 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Green Brick Partners by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 201,396 shares of the financial services provider’s stock valued at $1,674,000 after purchasing an additional 4,445 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Green Brick Partners during the second quarter valued at $47,000. Acadian Asset Management LLC acquired a new position in shares of Green Brick Partners during the second quarter valued at $60,000. Finally, Northern Trust Corp increased its holdings in shares of Green Brick Partners by 3.7% during the second quarter. Northern Trust Corp now owns 279,449 shares of the financial services provider’s stock valued at $2,322,000 after purchasing an additional 9,847 shares during the period. 82.11% of the stock is currently owned by institutional investors.

About Green Brick Partners

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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