Beazer Homes USA (NYSE:BZH) Shares Down 8.7% Following Weak Earnings

Shares of Beazer Homes USA, Inc. (NYSE:BZH) fell 8.7% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $20.80 and last traded at $21.45. 367,557 shares were traded during trading, a decline of 9% from the average session volume of 406,079 shares. The stock had previously closed at $23.50.

The construction company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). The business had revenue of $545.37 million for the quarter, compared to analyst estimates of $565.47 million. Beazer Homes USA had a return on equity of 6.14% and a net margin of 2.84%. Beazer Homes USA’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $33.00 target price (down previously from $37.00) on shares of Beazer Homes USA in a report on Tuesday, April 29th. Wedbush reaffirmed an “outperform” rating and set a $41.00 price target on shares of Beazer Homes USA in a research report on Friday. Finally, B. Riley started coverage on shares of Beazer Homes USA in a research report on Monday, June 30th. They issued a “neutral” rating and a $23.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Beazer Homes USA currently has an average rating of “Hold” and a consensus price target of $32.33.

Insiders Place Their Bets

In other Beazer Homes USA news, Director John J. Kelley III acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $215,000.00. Following the completion of the purchase, the director directly owned 15,917 shares in the company, valued at $342,215.50. The trade was a 169.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 6.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beazer Homes USA

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Beazer Homes USA by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,836,033 shares of the construction company’s stock valued at $37,437,000 after buying an additional 7,475 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Beazer Homes USA by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,075,199 shares of the construction company’s stock valued at $29,525,000 after acquiring an additional 5,431 shares during the period. Mill Road Capital Management LLC raised its stake in Beazer Homes USA by 81.0% during the 4th quarter. Mill Road Capital Management LLC now owns 666,058 shares of the construction company’s stock valued at $18,290,000 after acquiring an additional 297,989 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Beazer Homes USA by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 345,613 shares of the construction company’s stock worth $7,047,000 after acquiring an additional 35,901 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Beazer Homes USA by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 317,965 shares of the construction company’s stock worth $8,731,000 after acquiring an additional 8,248 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Beazer Homes USA Stock Down 7.7%

The company has a market cap of $657.51 million, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.65 and a beta of 2.09. The stock has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $22.34. The company has a current ratio of 13.07, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88.

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 also 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.