Rhumbline Advisers Has $929,000 Position in Beazer Homes USA, Inc. $BZH

Key Points

• Rhumbline Advisers has reduced its stake in Beazer Homes USA by 28.5%, now holding 45,564 shares after selling 18,163 shares in the first quarter.
• Beazer Homes reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42, and saw a revenue decline of 8.4% year-over-year.
• Despite recent downgrades, Beazer Homes maintains a consensus rating of "Moderate Buy" with an average price target of $31.33.

Rhumbline Advisers reduced its holdings in shares of Beazer Homes USA, Inc. (NYSE:BZH - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,564 shares of the construction company's stock after selling 18,163 shares during the period. Rhumbline Advisers owned about 0.15% of Beazer Homes USA worth $929,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Belpointe Asset Management LLC boosted its position in shares of Beazer Homes USA by 11.0% during the 1st quarter. Belpointe Asset Management LLC now owns 10,319 shares of the construction company's stock valued at $210,000 after acquiring an additional 1,021 shares in the last quarter. Caxton Associates LLP acquired a new position in Beazer Homes USA in the first quarter valued at about $643,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Beazer Homes USA by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,314 shares of the construction company's stock valued at $353,000 after buying an additional 734 shares in the last quarter. AQR Capital Management LLC boosted its position in Beazer Homes USA by 35.5% in the first quarter. AQR Capital Management LLC now owns 198,855 shares of the construction company's stock valued at $4,055,000 after buying an additional 52,062 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Beazer Homes USA by 1.8% in the first quarter. Royal Bank of Canada now owns 73,915 shares of the construction company's stock valued at $1,507,000 after buying an additional 1,279 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Beazer Homes USA Price Performance

Beazer Homes USA stock traded down $0.17 during trading hours on Tuesday, reaching $24.37. 68,752 shares of the stock were exchanged, compared to its average volume of 405,205. The company has a market cap of $724.61 million, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.79 and a beta of 2.12. The company has a current ratio of 13.33, a quick ratio of 0.91 and a debt-to-equity ratio of 0.94. Beazer Homes USA, Inc. has a twelve month low of $17.37 and a twelve month high of $38.22. The stock has a 50 day moving average of $24.73 and a two-hundred day moving average of $22.42.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BZH. B. Riley began coverage on shares of Beazer Homes USA in a research note on Monday, June 30th. They issued a "neutral" rating and a $23.00 target price for the company. Oppenheimer reissued an "outperform" rating and set a $30.00 price target (down from $33.00) on shares of Beazer Homes USA in a research note on Monday, August 4th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $41.00 target price on shares of Beazer Homes USA in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.33.

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.