New Home (NWHM) Downgraded by Zelman & Associates

New Home (NYSE:NWHM) was downgraded by equities researchers at Zelman & Associates from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

Several other research firms have also recently weighed in on NWHM. JPMorgan Chase & Co. restated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of New Home in a research note on Tuesday, February 20th. ValuEngine cut New Home from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. Zacks Investment Research cut New Home from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, JMP Securities cut New Home from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.00.

New Home traded down $0.13, reaching $9.96, during trading hours on Thursday, MarketBeat Ratings reports. 5,865 shares of the company traded hands, compared to its average volume of 86,717. The stock has a market capitalization of $214.61 million, a price-to-earnings ratio of 10.23 and a beta of 1.63. New Home has a 1 year low of $9.53 and a 1 year high of $13.55. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.23.

New Home (NYSE:NWHM) last announced its quarterly earnings data on Thursday, May 3rd. The construction company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $123.23 million during the quarter, compared to analysts’ expectations of $109.40 million. New Home had a return on equity of 7.69% and a net margin of 2.09%. equities research analysts predict that New Home will post 1.01 EPS for the current year.

In related news, insider Lp Tcn/Tnhc sold 7,803 shares of New Home stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $11.03, for a total value of $86,067.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 24.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in shares of New Home by 602.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,350 shares of the construction company’s stock worth $142,000 after acquiring an additional 9,735 shares during the period. Stone Ridge Asset Management LLC bought a new stake in shares of New Home in the fourth quarter worth $143,000. The Manufacturers Life Insurance Company grew its holdings in shares of New Home by 1,390.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,786 shares of the construction company’s stock worth $148,000 after acquiring an additional 10,995 shares during the period. New York State Common Retirement Fund grew its holdings in shares of New Home by 74.1% in the first quarter. New York State Common Retirement Fund now owns 14,100 shares of the construction company’s stock worth $156,000 after acquiring an additional 6,000 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of New Home in the first quarter worth $258,000. 58.97% of the stock is owned by institutional investors.

About New Home

The New Home Company Inc, a homebuilder, focuses on the design, construction, and sale of homes. The company operates in two segments, Homebuilding and Fee Building. It builds and sells homes in metropolitan areas of California and Arizona, including coastal Southern California, the San Francisco Bay area, metro Sacramento, and the greater Phoenix area.

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