Los Angeles Capital Management LLC boosted its holdings in shares of Beazer Homes USA, Inc. (NYSE:BZH – Get Rating) by 16.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,164 shares of the construction company's stock after buying an additional 16,110 shares during the quarter. Los Angeles Capital Management LLC owned 0.36% of Beazer Homes USA worth $1,707,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of BZH. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Beazer Homes USA in the 4th quarter valued at $29,000. Dorsey Wright & Associates purchased a new position in shares of Beazer Homes USA in the 1st quarter valued at $36,000. National Bank of Canada FI purchased a new position in shares of Beazer Homes USA in the 1st quarter valued at $45,000. Byrne Asset Management LLC purchased a new position in shares of Beazer Homes USA in the 4th quarter valued at $49,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Beazer Homes USA in the 1st quarter valued at $83,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.
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Beazer Homes USA Trading Up 4.7 %
Shares of Beazer Homes USA stock opened at $15.74 on Thursday. Beazer Homes USA, Inc. has a 52-week low of $10.09 and a 52-week high of $23.97. The company has a quick ratio of 0.80, a current ratio of 13.55 and a debt-to-equity ratio of 1.23. The company's 50-day simple moving average is $13.76 and its 200-day simple moving average is $15.24. The firm has a market cap of $492.19 million, a price-to-earnings ratio of 2.66 and a beta of 2.01.
Beazer Homes USA (NYSE:BZH – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.34. Beazer Homes USA had a net
margin of 8.76% and a return on equity of 23.23%. The business had revenue of $526.67 million for the quarter, compared to the consensus estimate of $546.33 million. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The company's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Beazer Homes USA, Inc. will post 6.45 earnings per share for the current year.
Beazer Homes USA declared that its board has approved a share buyback plan on Wednesday, May 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Separately, B. Riley dropped their price objective on shares of Beazer Homes USA from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, June 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Beazer Homes USA currently has a consensus rating of "Hold" and an average target price of $22.00.
About Beazer Homes USA
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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 sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Delaware, Maryland, Indiana, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.
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