Beazer Homes USA (NYSE:BZH) Sees Large Volume Increase on Earnings Beat

Beazer Homes USA, Inc. (NYSE:BZH) saw strong trading volume on Friday following a better than expected earnings announcement. 174,791 shares traded hands during mid-day trading, a decline of 51% from the previous session’s volume of 359,649 shares.The stock last traded at $27.95 and had previously closed at $30.24.

The construction company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.41. The company had revenue of $645.40 million during the quarter, compared to analysts’ expectations of $627.29 million. Beazer Homes USA had a return on equity of 18.66% and a net margin of 7.94%. Beazer Homes USA’s quarterly revenue was down 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Beazer Homes USA in a report on Thursday, October 5th. They set a “hold” rating for the company. Sidoti upgraded Beazer Homes USA from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, August 23rd. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Beazer Homes USA in a report on Friday. B. Riley increased their price objective on Beazer Homes USA from $28.00 to $38.00 in a report on Friday, July 28th. Finally, Zelman & Associates upgraded Beazer Homes USA from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.33.

Institutional Investors Weigh In On Beazer Homes USA

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Beazer Homes USA by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,387 shares of the construction company’s stock worth $324,000 after buying an additional 489 shares during the period. Barclays PLC lifted its stake in shares of Beazer Homes USA by 1.7% in the 3rd quarter. Barclays PLC now owns 33,188 shares of the construction company’s stock valued at $827,000 after purchasing an additional 559 shares during the period. Swiss National Bank lifted its stake in shares of Beazer Homes USA by 1.0% in the 3rd quarter. Swiss National Bank now owns 62,100 shares of the construction company’s stock valued at $1,547,000 after purchasing an additional 600 shares during the period. Signaturefd LLC lifted its stake in shares of Beazer Homes USA by 159.7% in the 2nd quarter. Signaturefd LLC now owns 1,070 shares of the construction company’s stock valued at $30,000 after purchasing an additional 658 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Beazer Homes USA by 84.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,623 shares of the construction company’s stock valued at $46,000 after purchasing an additional 743 shares during the period. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Beazer Homes USA Trading Down 10.2 %

The company has a market cap of $851.51 million, a PE ratio of 4.40 and a beta of 2.33. The company has a current ratio of 15.28, a quick ratio of 2.55 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $25.49 and a 200 day moving average price of $25.92.

About Beazer Homes USA

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, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.