The New Home Co. (NYSE:NWHM) Receives Average Recommendation of “Buy” from Brokerages
The New Home Co. (NYSE:NWHM) has earned an average recommendation of “Hold” from the six research firms that are currently covering the stock. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $12.00.
NWHM has been the topic of several recent analyst reports. Citigroup Inc. cut their target price on The New Home from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 15th. TheStreet raised The New Home from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of The New Home in a research note on Tuesday, July 12th.
In other news, CEO H Lawrence Webb acquired 10,200 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average cost of $9.75 per share, with a total value of $99,450.00. Following the transaction, the chief executive officer now owns 748,956 shares in the company, valued at approximately $7,302,321. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Royce & Associates LP raised its position in The New Home by 22.8% in the second quarter. Royce & Associates LP now owns 582,596 shares of the company’s stock valued at $5,558,000 after buying an additional 108,260 shares during the last quarter. Spark Investment Management LLC acquired a new position in The New Home during the first quarter valued at about $863,000. BlackRock Fund Advisors raised its position in The New Home by 16.0% in the second quarter. BlackRock Fund Advisors now owns 327,681 shares of the company’s stock valued at $3,126,000 after buying an additional 45,312 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in The New Home during the second quarter valued at about $220,000. Finally, Bank of New York Mellon Corp raised its position in The New Home by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 65,984 shares of the company’s stock valued at $630,000 after buying an additional 17,809 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.
The New Home (NYSE:NWHM) traded up 0.70% on Monday, reaching $10.10. The company had a trading volume of 10,371 shares. The firm has a market capitalization of $209.18 million, a price-to-earnings ratio of 10.46 and a beta of 1.92. The New Home has a one year low of $7.51 and a one year high of $16.55. The company’s 50 day moving average is $10.37 and its 200-day moving average is $10.33.
The New Home (NYSE:NWHM) last posted its earnings results on Friday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $88.98 million. The New Home had a return on equity of 8.86% and a net margin of 3.86%. The New Home’s quarterly revenue was up 138.8% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, equities research analysts expect that The New Home will post $1.10 earnings per share for the current fiscal year.
The New Home Company Profile
The New Home Company Inc is a homebuilding company. The Company focuses on the design, construction and sale of consumer-driven homes in various metropolitan areas within certain markets in California and Arizona, including coastal Southern California, the San Francisco Bay area, metro Sacramento and the greater Phoenix area.
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