Beazer Homes USA (NYSE:BZH) Sets New 12-Month High – Here’s What Happened

Beazer Homes USA, Inc. (NYSE:BZH)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.44 and last traded at $28.1060, with a volume of 230535 shares changing hands. The stock had previously closed at $26.55.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Beazer Homes USA from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Beazer Homes USA presently has an average rating of “Hold” and an average target price of $31.33.

Beazer Homes USA Stock Down 0.9%

The stock has a fifty day moving average of $24.09 and a two-hundred day moving average of $23.08. The company has a quick ratio of 1.32, a current ratio of 15.67 and a debt-to-equity ratio of 1.05. The stock has a market cap of $749.50 million, a price-to-earnings ratio of -182.83 and a beta of 2.18.

Beazer Homes USA (NYSE:BZH) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.69. The company had revenue of $409.85 million during the quarter, compared to analyst estimates of $448.79 million. Beazer Homes USA had a positive return on equity of 0.99% and a negative net margin of 0.18%.The firm’s revenue was down 27.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, analysts predict that Beazer Homes USA, Inc. will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Beazer Homes USA

A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC purchased a new stake in shares of Beazer Homes USA during the 4th quarter valued at about $1,039,000. JPMorgan Chase & Co. boosted its holdings in Beazer Homes USA by 1,385.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 229,705 shares of the construction company’s stock worth $5,639,000 after acquiring an additional 214,239 shares during the period. Quantbot Technologies LP purchased a new position in Beazer Homes USA in the 3rd quarter worth approximately $1,204,000. Fox Run Management L.L.C. acquired a new stake in Beazer Homes USA in the third quarter valued at approximately $541,000. Finally, First Eagle Investment Management LLC grew its position in Beazer Homes USA by 3.1% in the third quarter. First Eagle Investment Management LLC now owns 695,937 shares of the construction company’s stock valued at $17,085,000 after acquiring an additional 20,762 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

About Beazer Homes USA

Beazer Homes USA, Inc is a national homebuilder specializing in the design, construction and sale of single-family homes. The company serves a diverse range of buyers, offering product lines that span from entry-level homes to move-up and active adult communities. In addition to its core homebuilding operations, Beazer provides mortgage financing, title and closing services through its subsidiaries, aiming to simplify the home-buying process and manage risk across the transaction.

Operating in key growth markets across the United States, Beazer Homes maintains a presence in more than a dozen metropolitan areas, including select markets in the Southeast, Southwest and West.