The New Home Co. (NYSE:NWHM) Receives Average Recommendation of “Buy” from Brokerages
The New Home Co. (NYSE:NWHM) has received an average rating of “Hold” from the six brokerages that are currently covering the company. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.00.
A number of equities analysts have recently issued reports on NWHM shares. Citigroup Inc. dropped their price objective on shares of 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. Credit Suisse Group AG restated a “buy” rating and issued a $13.00 target price on shares of The New Home in a research note on Wednesday, June 29th. Finally, TheStreet upgraded shares of The New Home from a “sell” rating to a “hold” rating in a research note on Friday, July 29th.
Shares of The New Home (NYSE:NWHM) traded up 0.70% during trading on Monday, reaching $10.10. 10,371 shares of the company were exchanged. The New Home has a 1-year low of $7.51 and a 1-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 firm has a market capitalization of $209.18 million, a PE ratio of 10.46 and a beta of 1.92.
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The New Home (NYSE:NWHM) last released its quarterly earnings data on Friday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The New Home had a net margin of 3.86% and a return on equity of 8.86%. The firm had revenue of $108.90 million for the quarter, compared to the consensus estimate of $88.98 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 138.8% on a year-over-year basis. Equities research analysts expect that The New Home will post $1.10 EPS for the current fiscal year.
In related news, CEO H Lawrence Webb purchased 10,200 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average price of $9.75 per share, with a total value of $99,450.00. Following the completion of the acquisition, the chief executive officer now owns 748,956 shares in the company, valued at approximately $7,302,321. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NWHM. Spark Investment Management LLC bought a new position in The New Home during the first quarter worth about $863,000. State Street Corp boosted its position in The New Home by 8.1% in the first quarter. State Street Corp now owns 149,572 shares of the company’s stock worth $1,834,000 after buying an additional 11,200 shares in the last quarter. Royce & Associates LP boosted 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 worth $5,558,000 after buying an additional 108,260 shares in the last quarter. Royal Bank of Canada boosted its position in The New Home by 3.7% in the first quarter. Royal Bank of Canada now owns 22,067 shares of the company’s stock worth $271,000 after buying an additional 795 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in The New Home by 1.0% in the first quarter. Geode Capital Management LLC now owns 72,532 shares of the company’s stock worth $889,000 after buying an additional 712 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.
About The New Home
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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