Beazer Homes USA (NYSE:BZH) Shares Gap Up Following Strong Earnings

Beazer Homes USA, Inc. (NYSE:BZH) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $21.40, but opened at $24.00. Beazer Homes USA shares last traded at $21.8290, with a volume of 216,032 shares.

The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.27. Beazer Homes USA had a return on equity of 6.16% and a net margin of 2.84%.The firm had revenue of $791.90 million during the quarter, compared to analysts’ expectations of $674.80 million. During the same quarter in the prior year, the business posted $1.69 earnings per share. Beazer Homes USA’s revenue was down 1.8% compared to the same quarter last year.

Analyst Ratings Changes

A number of brokerages have issued reports on BZH. Oppenheimer restated an “outperform” rating and set a $30.00 target price (down previously from $33.00) on shares of Beazer Homes USA in a research report on Monday, August 4th. Zacks Research raised Beazer Homes USA from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Wedbush reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Beazer Homes USA in a research note on Friday, August 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Beazer Homes USA in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Beazer Homes USA has a consensus rating of “Hold” and an average price target of $31.33.

Hedge Funds Weigh In On Beazer Homes USA

Several hedge funds and other institutional investors have recently bought and sold shares of BZH. State of Alaska Department of Revenue acquired a new stake in Beazer Homes USA in the third quarter valued at approximately $37,000. Osaic Holdings Inc. boosted its stake in shares of Beazer Homes USA by 454.9% in the second quarter. Osaic Holdings Inc. now owns 2,103 shares of the construction company’s stock valued at $47,000 after purchasing an additional 1,724 shares during the period. Comerica Bank purchased a new stake in Beazer Homes USA during the 3rd quarter worth $48,000. US Bancorp DE lifted its holdings in Beazer Homes USA by 48.1% in the 1st quarter. US Bancorp DE now owns 2,523 shares of the construction company’s stock worth $51,000 after buying an additional 819 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Beazer Homes USA by 123.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,500 shares of the construction company’s stock valued at $78,000 after buying an additional 1,933 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Beazer Homes USA Stock Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 13.33 and a quick ratio of 0.91. The stock has a 50-day moving average price of $23.78 and a 200-day moving average price of $23.21. The firm has a market capitalization of $655.76 million, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.61 and a beta of 2.16.

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.