Bank of America Corp DE Trims Stock Position in Beazer Homes USA, Inc. $BZH

Key Points

• Bank of America cut its Beazer Homes stake by 49.5% in the first quarter, selling 140,915 shares and retaining 144,042 shares worth approximately $2.77 million. Institutional investors collectively own 85.65% of BZH.
• Analyst sentiment is mixed, with ratings ranging from “strong buy” to “strong sell”; the overall consensus rating is Hold.
• Beazer Homes reported a quarterly loss of $0.16 per share, outperforming estimates for a $0.34 loss, while revenue of $516.31 million exceeded forecasts but declined 5.3% year over year.

Bank of America Corp DE lessened its stake in Beazer Homes USA, Inc. (NYSE:BZH - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 144,042 shares of the construction company's stock after selling 140,915 shares during the quarter. Bank of America Corp DE owned 0.53% of Beazer Homes USA worth $2,771,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Beazer Homes USA by 93.9% during the 4th quarter. Royal Bank of Canada now owns 1,883 shares of the construction company's stock worth $38,000 after purchasing an additional 912 shares during the period. Osaic Holdings Inc. increased its holdings in Beazer Homes USA by 454.9% in the second quarter. Osaic Holdings Inc. now owns 2,103 shares of the construction company's stock valued at $47,000 after buying an additional 1,724 shares in the last quarter. Comerica Bank acquired a new position in shares of Beazer Homes USA in the third quarter worth about $48,000. Aquatic Capital Management LLC acquired a new position in shares of Beazer Homes USA in the third quarter worth about $70,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Beazer Homes USA by 123.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,500 shares of the construction company's stock worth $78,000 after acquiring an additional 1,933 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Beazer Homes USA from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded Beazer Homes USA from a "sell" rating to a "strong sell" rating in a research note on Sunday, May 10th. Zacks Research upgraded Beazer Homes USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Texas Capital cut shares of Beazer Homes USA from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Oppenheimer lowered shares of Beazer Homes USA from an "outperform" rating to a "market perform" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Beazer Homes USA Stock Down 0.1%

BZH stock opened at $33.18 on Tuesday. The company has a market cap of $885.24 million, a price-to-earnings ratio of -110.60 and a beta of 2.17. The company has a current ratio of 14.64, a quick ratio of 1.28 and a debt-to-equity ratio of 1.23. Beazer Homes USA, Inc. has a 12 month low of $17.83 and a 12 month high of $34.54. The firm has a 50-day moving average of $31.81 and a two-hundred day moving average of $26.27.

Beazer Homes USA (NYSE:BZH - Get Free Report) last released its earnings results on Friday, August 7th. The construction company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.18. The business had revenue of $516.31 million for the quarter, compared to analyst estimates of $510.55 million. Beazer Homes USA had a negative net margin of 0.37% and a positive return on equity of 0.18%. The business's revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. As a group, analysts forecast that Beazer Homes USA, Inc. will post -0.33 earnings per share for the current fiscal year.

Beazer Homes USA Company Profile

Beazer Homes USA, Inc is a national homebuilder specializing in the design, construction and sale of single-family homes. The company serves a diverse range of buyers, offering product lines that span from entry-level homes to move-up and active adult communities. In addition to its core homebuilding operations, Beazer provides mortgage financing, title and closing services through its subsidiaries, aiming to simplify the home-buying process and manage risk across the transaction.

Operating in key growth markets across the United States, Beazer Homes maintains a presence in more than a dozen metropolitan areas, including select markets in the Southeast, Southwest and West.

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