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UPDATE: Sterne Agee Downgrades Beazer Homes USA

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In a research note released Wednesday, Sterne Agee analyst Jay McCanless downgraded Beazer Homes USA (NYSE: BZH) from Buy to Neutral, due to shares being in the five percent range of the firm's unchanged $22 price target.

In addition, the analyst is raising his full-year 2014 GAAP earnings per share estimate from $0.02 to $0.12, due to the sale of pre-owned rental homes stake to American Home 4 Rent.

McCanless is also lifting his full-year 2015 GAAP earnings per share estimate from $13.97 to $14.11, due to a five percent increase tax provision in the first three quarters of full-year 2015.

The analyst continued to comment, "from a fundamental perspective shares of the company are appropriately valued."

Shares of the company are down three percent Wednesday.

Latest Ratings for BZH

DateFirmActionFromTo
Apr 2020WedbushMaintainsNeutral
Jan 2020WedbushDowngradesOutperformNeutral
Sep 2018Credit SuisseMaintainsNeutralNeutral

View More Analyst Ratings for BZH
View the Latest Analyst Ratings

 

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Posted-In: Jay McCanless Sterne AgeeAnalyst Color Downgrades Analyst Ratings

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