Beazer Homes USA, Inc. (NYSE:BZH – Get Rating) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,480,000 shares, a drop of 10.3% from the July 15th total of 1,650,000 shares. Currently, 5.0% of the shares of the company are sold short. Based on an average trading volume of 418,900 shares, the short-interest ratio is currently 3.5 days.
Analyst Upgrades and Downgrades
Separately, B. Riley lowered 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.00.
Get Beazer Homes USA alerts:Beazer Homes USA Price Performance
Shares of BZH stock opened at $15.60 on Thursday. Beazer Homes USA has a 1 year low of $10.09 and a 1 year high of $23.97. The firm's 50 day moving average is $13.73 and its 200-day moving average is $15.15. The firm has a market capitalization of $487.89 million, a price-to-earnings ratio of 2.65 and a beta of 2.01. The company has a current ratio of 13.55, a quick ratio of 0.80 and a debt-to-equity ratio of 1.23.
Beazer Homes USA (NYSE:BZH – Get Rating) last issued its earnings results on Thursday, July 28th. The construction company reported $1.76 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 firm had revenue of $526.67 million during the quarter, compared to the consensus estimate of $546.33 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business's quarterly revenue was down 7.8% on a year-over-year basis. Sell-side analysts forecast that Beazer Homes USA will post 6.45 EPS for the current fiscal year.Beazer Homes USA announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Beazer Homes USA
Several hedge funds have recently added to or reduced their stakes in BZH. Carolina Wealth Advisors LLC bought a new stake in shares of Beazer Homes USA in the 1st quarter worth $245,000. Monarch Partners Asset Management LLC purchased a new stake in Beazer Homes USA in the first quarter worth $1,358,000. Raymond James & Associates purchased a new stake in Beazer Homes USA in the fourth quarter worth $274,000. Dorsey Wright & Associates purchased a new position in Beazer Homes USA during the first quarter valued at $36,000. Finally, GHE LLC increased its holdings in shares of Beazer Homes USA by 4.0% during the first quarter. GHE LLC now owns 62,080 shares of the construction company's stock valued at $945,000 after acquiring an additional 2,372 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.
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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