Beazer Homes USA Receives “Buy” Rating from Compass Point (BZH)
Beazer Homes USA (NYSE:BZH)‘s stock had its “buy” rating restated by investment analysts at Compass Point in a note issued to investors on Friday. They currently have a $25.00 target price on the stock, up from their previous target price of $21.50. Compass Point’s target price would suggest a potential upside of 53.75% from the stock’s previous close.
The analysts wrote, “We reiterate our Buy rating on shares of BZH and lower our price target to $21.50 from $25.00. Following mixed 3Q14 results characterized by a headline miss related to a debt extinguishment and higher than expected ASP ($285k) and HB margin (22.1%), BZH sold off 11.27% intraday and hit a new 52 week low ($15.27). “Since the beginning of May the stock has dropped to 58% of our 2015 tangible book estimate of $26.57 (including about $14/share in DTA) from 73% and remains one of the most undervalued builders in the sector. Despite the overhang on the space due to weak housing data points of late, we continue to believe the stock is very cheap relative to its home builder peers and warrants investor attention as it has just over 40% upside to our $21.50 price target.”
A number of other firms have also recently commented on BZH. Analysts at Sterne Agee upgraded shares of Beazer Homes USA from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $22.00 price target on the stock, down previously from $23.00. Finally, analysts at FBN Securities upgraded shares of Beazer Homes USA to a “sector perform” rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Beazer Homes USA presently has an average rating of “Hold” and a consensus price target of $21.06.
Shares of Beazer Homes USA (NYSE:BZH) opened at 16.26 on Friday. Beazer Homes USA has a 1-year low of $15.27 and a 1-year high of $25.34. The stock’s 50-day moving average is $19.30 and its 200-day moving average is $20.17. The company’s market cap is $429.5 million.
Beazer Homes USA (NYSE:BZH) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.22 by $0.69. The company had revenue of $354.67 million for the quarter, compared to the consensus estimate of $360.13 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Beazer Homes USA will post $0.17 earnings per share for the current fiscal year.
Beazer Homes USA, Inc is a diversified homebuilder with operations in 16 states within three geographic regions in the United States: West, East, and Southeast.
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