Zacks Investment Research Upgrades Green Brick Partners (NASDAQ:GRBK) to “Buy”

Zacks Investment Research upgraded shares of Green Brick Partners (NASDAQ:GRBKGet Rating) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. They currently have $24.00 price target on the financial services provider’s stock.

According to Zacks, “Green Brick Partners, Inc. is involved in the land acquisition and development, entitlements, design, construction, marketing and sale of residential projects. It operates primarily in Dallas, Fort Worth, Texas, Atlanta and Georgia. Green Brick Partners, Inc., formerly known as BioFuel Energy Corp, is based in Plano, Texas. “

Several other analysts also recently issued reports on GRBK. JPMorgan Chase & Co. cut their target price on shares of Green Brick Partners from $20.00 to $18.50 and set an underweight rating on the stock in a research note on Wednesday, April 13th. StockNews.com initiated coverage on shares of Green Brick Partners in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, B. Riley lowered their price target on shares of Green Brick Partners from $27.00 to $25.00 and set a buy rating on the stock in a report on Wednesday, April 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $25.13.

NASDAQ:GRBK traded down $0.15 during trading hours on Friday, hitting $21.57. 561,323 shares of the stock traded hands, compared to its average volume of 543,992. The firm has a 50 day moving average price of $20.93 and a 200 day moving average price of $24.19. The company has a current ratio of 6.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. Green Brick Partners has a fifty-two week low of $18.75 and a fifty-two week high of $32.25. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 4.89 and a beta of 1.42.

Green Brick Partners (NASDAQ:GRBKGet Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.35. Green Brick Partners had a net margin of 14.46% and a return on equity of 27.96%. During the same quarter in the prior year, the company posted $0.51 EPS. Research analysts predict that Green Brick Partners will post 4.24 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC boosted its holdings in Green Brick Partners by 0.7% in the third quarter. Summit Trail Advisors LLC now owns 55,677 shares of the financial services provider’s stock worth $1,142,000 after purchasing an additional 407 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in Green Brick Partners by 5.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,873 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 412 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in Green Brick Partners by 27.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,490 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 540 shares during the last quarter. Voya Investment Management LLC lifted its position in Green Brick Partners by 6.2% during the 3rd quarter. Voya Investment Management LLC now owns 12,116 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 706 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its position in Green Brick Partners by 72.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,807 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

About Green Brick Partners (Get Rating)

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates through Builder operations Central, Builder operations Southeast, and Land development segments. The company is involved in the land acquisition and development, entitlements, design, construction, title and mortgage services, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods, and master planned communities.

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