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

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

Analysts Set New Price Targets

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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.33.

Beazer Homes USA Stock Performance

The firm’s 50 day moving average price is $23.86 and its 200-day moving average price is $23.01. The firm has a market cap of $755.13 million, a price-to-earnings ratio of -184.20 and a beta of 2.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 15.67 and a quick ratio of 1.32.

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

Institutional Investors Weigh In On Beazer Homes USA

Hedge funds have recently made changes to their positions in the stock. UBS Group AG increased its stake in Beazer Homes USA by 189.7% during the fourth quarter. UBS Group AG now owns 537,663 shares of the construction company’s stock valued at $10,898,000 after acquiring an additional 352,092 shares during the period. Millennium Management LLC lifted its position in shares of Beazer Homes USA by 928.5% in the 3rd quarter. Millennium Management LLC now owns 376,183 shares of the construction company’s stock worth $9,235,000 after acquiring an additional 339,607 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Beazer Homes USA by 1,385.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 229,705 shares of the construction company’s stock worth $5,639,000 after purchasing an additional 214,239 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Beazer Homes USA by 22.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 678,471 shares of the construction company’s stock valued at $13,753,000 after purchasing an additional 122,606 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Beazer Homes USA by 555.9% during the first quarter. Empowered Funds LLC now owns 141,377 shares of the construction company’s stock valued at $2,720,000 after purchasing an additional 119,822 shares during the period. 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.