Market Overview

UPDATE: JP Morgan Downgrades Beazer Homes to Neutral on Relative Order Growth

Share:
Related BZH
Sterne Agee CRT: 6 Homebuilders To Buy On Weakness
April Housing Data Obliterates Expectations; Investors Buy In
Beazer Homes USA's (BZH) Allan Merrill on Q3 2015 Results - Earnings Call Transcript (Seeking Alpha)

JP Morgan downgraded Beazer Homes USA, Inc. (NYSE: BZH) from Overweight to Neutral and raises the price target from $18.00 to $20.00.

JP Morgan commented, "[W]hile we expect fundamental improvement in FY13, EPS should remain solidly negative, while additionally, we believe the slightly negative order growth we estimate in FY13 of (3%) versus our universe average estimate of 19% should result in investor disappointment, despite guidance already effectively pointing to such a potential outcome. Lastly, while inexpensive on an adjusted P/B basis (ex-FAS 109), trading at 0.87x, we believe that this not only appropriately reflects our outlook for negative EPS and hence book value to decline in FY13, but also we point out that BZH trades roughly in-line with its peers on a P/E basis against our 2016 Earnings Power and would trade at a premium if the company issued equity."

Beazer Homes closed at $ on Thursday.

Latest Ratings for BZH

DateFirmActionFromTo
Apr 2015Compass PointDowngradesBuyNeutral
Feb 2015Compass PointDowngradesBuyNeutral
Feb 2015CitigroupMaintainsNeutral

View More Analyst Ratings for BZH
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (BZH)

Get Benzinga's Newsletters