New Home (NWHM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of New Home (NYSE:NWHM) from a hold rating to a strong sell rating in a research report released on Thursday.

According to Zacks, “The New Home Company LLC is a homebuilder. The company focused on the design, construction and sale of innovative and consumer-driven homes primarily in the San Francisco Bay area and metro Sacramento. It operates primarily in two segments: homebuilding and fee building. The New Home Company LLC is based in Suite, United States. “

Other analysts have also recently issued research reports about the stock. Zelman & Associates cut shares of New Home from a buy rating to a hold rating in a research report on Thursday, June 14th. ValuEngine cut shares of New Home from a hold rating to a sell rating in a research report on Monday, May 7th. Finally, JPMorgan Chase & Co. cut shares of New Home from a neutral rating to an underweight rating in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has an average rating of Sell and a consensus price target of $13.00.

New Home traded down $0.10, hitting $9.00, during trading on Thursday, Marketbeat Ratings reports. The company had a trading volume of 37,871 shares, compared to its average volume of 57,828. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.12 and a quick ratio of 1.59. New Home has a 12 month low of $8.50 and a 12 month high of $13.55. The stock has a market capitalization of $189.79 million, a PE ratio of 9.68 and a beta of 1.55.

New Home (NYSE:NWHM) last posted its quarterly earnings data on Friday, August 3rd. The construction company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $155.56 million during the quarter, compared to the consensus estimate of $145.40 million. New Home had a return on equity of 6.74% and a net margin of 1.87%. equities analysts expect that New Home will post 0.86 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in NWHM. Raymond James Financial Services Advisors Inc. acquired a new position in New Home in the 2nd quarter worth $121,000. New York State Common Retirement Fund boosted its stake in New Home by 74.1% in the 1st quarter. New York State Common Retirement Fund now owns 14,100 shares of the construction company’s stock worth $156,000 after purchasing an additional 6,000 shares during the period. Bank of Montreal Can boosted its stake in New Home by 100.9% in the 2nd quarter. Bank of Montreal Can now owns 20,091 shares of the construction company’s stock worth $200,000 after purchasing an additional 10,091 shares during the period. Victory Capital Management Inc. acquired a new position in New Home in the 1st quarter worth $258,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in New Home by 44.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 23,849 shares of the construction company’s stock worth $265,000 after purchasing an additional 7,300 shares during the period. 58.66% of the stock is owned by institutional investors.

New Home Company Profile

The New Home Company Inc, a homebuilder, focuses on the design, construction, and sale of homes. The company operates in two segments, Homebuilding and Fee Building. It builds and sells homes in metropolitan areas of California and Arizona, including coastal Southern California, the San Francisco Bay area, metro Sacramento, and the greater Phoenix area.

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