Zacks Research Initiates Coverage on Green Brick Partners (NASDAQ:GRBK)

Equities research analysts at Zacks Research assumed coverage on shares of Green Brick Partners (NASDAQ:GRBK) in a research note issued to investors on Wednesday, Zacks reports. The brokerage set a “hold” rating on the financial services provider’s stock.

Green Brick Partners Trading Down 0.8%

NASDAQ GRBK opened at $62.44 on Wednesday. The business has a 50 day simple moving average of $66.95 and a 200 day simple moving average of $69.65. Green Brick Partners has a one year low of $59.12 and a one year high of $83.18. The stock has a market capitalization of $2.69 billion, a P/E ratio of 8.11 and a beta of 1.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63.

Green Brick Partners (NASDAQ:GRBK) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.08). Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%. During the same period in the prior year, the company earned $1.77 earnings per share. Green Brick Partners’s revenue was down 10.2% on a year-over-year basis. Research analysts expect that Green Brick Partners will post 8.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Green Brick Partners during the second quarter worth $389,594,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Green Brick Partners during the second quarter valued at approximately $30,446,000. The Manufacturers Life Insurance Company bought a new stake in shares of Green Brick Partners during the second quarter valued at approximately $27,857,000. Bank of New York Mellon Corp acquired a new position in shares of Green Brick Partners during the second quarter worth approximately $16,702,000. Finally, Bank of America Corp DE bought a new position in shares of Green Brick Partners in the 2nd quarter worth $12,923,000. Institutional investors and hedge funds own 78.24% of the company’s stock.

Green Brick Partners Company Profile

Green Brick Partners, Inc is a residential homebuilder and land development company that acquires and develops residential lots and builds homes for a range of buyers. Its operations include planning and developing master-planned communities, constructing single-family homes and townhomes, and providing related services through affiliated businesses.

The company operates primarily in the Dallas-Fort Worth and Atlanta metropolitan areas, as well as Florida’s Treasure Coast. Green Brick markets homes through several regional brands, including Southgate Homes, Normandy Homes, Trophy Signature Homes, CB JENI Homes and Centre Living Homes.