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

Beazer Homes USA, Inc. (NYSE:BZH) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. 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 trading hands.

The construction company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.80 by $0.27. Beazer Homes USA had a net margin of 2.84% and a return on equity of 6.16%. The business had revenue of $791.90 million during the quarter, compared to analyst estimates of $674.80 million. During the same period in the previous year, the business posted $1.69 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in Beazer Homes USA by 5.9% in the third quarter. Harbor Capital Advisors Inc. now owns 8,202 shares of the construction company’s stock worth $201,000 after purchasing an additional 456 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Beazer Homes USA by 0.6% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 76,110 shares of the construction company’s stock valued at $1,552,000 after purchasing an additional 476 shares during the last quarter. Rhumbline Advisers increased its stake in Beazer Homes USA by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 46,206 shares of the construction company’s stock worth $1,034,000 after purchasing an additional 642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Beazer Homes USA by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,314 shares of the construction company’s stock worth $353,000 after buying an additional 734 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Beazer Homes USA by 48.1% in the first quarter. US Bancorp DE now owns 2,523 shares of the construction company’s stock worth $51,000 after buying an additional 819 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Beazer Homes USA Stock Performance

The company has a quick ratio of 0.91, a current ratio of 13.33 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $655.76 million, a PE ratio of 10.03, a P/E/G ratio of 0.61 and a beta of 2.16. The firm’s 50-day moving average price is $23.78 and its two-hundred day moving average price is $23.21.

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.