Denali Advisors LLC Lowers Position in Beazer Homes USA, Inc. $BZH

Key Points

• Denali Advisors LLC has reduced its stake in Beazer Homes USA by 7.2%, now holding 137,177 shares valued at approximately $3.07 million.
• Beazer Homes recently received a range of analyst ratings, with a consensus rating of "Hold" and a target price averaging $31.33.
• Despite a decline in quarterly earnings, Beazer Homes shares opened at $23.88, and the company reported a revenue drop of 8.4% year-over-year.

Denali Advisors LLC cut its stake in shares of Beazer Homes USA, Inc. (NYSE:BZH - Free Report) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,177 shares of the construction company's stock after selling 10,600 shares during the period. Denali Advisors LLC owned about 0.45% of Beazer Homes USA worth $3,069,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Readystate Asset Management LP bought a new stake in shares of Beazer Homes USA in the first quarter worth about $2,210,000. Nuveen LLC bought a new stake in shares of Beazer Homes USA in the first quarter worth about $1,651,000. Round Hill Asset Management bought a new stake in shares of Beazer Homes USA in the first quarter worth about $1,315,000. Cerity Partners LLC bought a new stake in shares of Beazer Homes USA in the first quarter worth about $1,291,000. Finally, HB Wealth Management LLC bought a new stake in shares of Beazer Homes USA in the first quarter worth about $1,174,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research raised Beazer Homes USA from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Wedbush reaffirmed an "outperform" rating and issued a $41.00 target price on shares of Beazer Homes USA in a report on Friday, August 1st. B. Riley assumed coverage on Beazer Homes USA in a report on Monday, June 30th. They issued a "neutral" rating and a $23.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 target price (down from $33.00) on shares of Beazer Homes USA in a report on Monday, August 4th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Beazer Homes USA in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Beazer Homes USA presently has a consensus rating of "Hold" and a consensus target price of $31.33.

Beazer Homes USA Trading Up 2.7%

Shares of NYSE BZH opened at $23.88 on Wednesday. The business's 50 day moving average is $24.72 and its two-hundred day moving average is $22.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 13.33 and a quick ratio of 0.91. Beazer Homes USA, Inc. has a 1-year low of $17.37 and a 1-year high of $38.22. The stock has a market capitalization of $709.98 million, a P/E ratio of 10.86, a PEG ratio of 0.61 and a beta of 2.17.

Beazer Homes USA (NYSE:BZH - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $545.37 million for the quarter, compared to the consensus estimate of $565.47 million. Beazer Homes USA had a return on equity of 6.16% and a net margin of 2.84%.The company's revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. As a group, research analysts expect that Beazer Homes USA, Inc. will post 3.48 EPS for the current year.

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.

Want to see what other hedge funds are holding BZH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beazer Homes USA, Inc. (NYSE:BZH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.