New Home (NYSE:NWHM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, February 23rd.
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. “
NWHM has been the topic of a number of other reports. JMP Securities downgraded shares of New Home from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. ValuEngine upgraded shares of New Home from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of New Home in a report on Tuesday, February 20th.
New Home (NWHM) traded up $0.10 during mid-day trading on Friday, hitting $11.37. 114,566 shares of the company’s stock were exchanged, compared to its average volume of 104,830. New Home has a one year low of $9.75 and a one year high of $13.55. The company has a market cap of $235.28, a P/E ratio of 13.87 and a beta of 1.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.40 and a quick ratio of 2.40.
New Home (NYSE:NWHM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. New Home had a net margin of 2.28% and a return on equity of 8.39%. The company had revenue of $324.10 million for the quarter, compared to the consensus estimate of $295.04 million. During the same period in the previous year, the firm earned $0.76 EPS. New Home’s revenue was up .5% on a year-over-year basis. sell-side analysts anticipate that New Home will post 1.03 EPS for the current year.
In related news, insider Lp Tcn/Tnhc sold 64,416 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $12.43, for a total transaction of $800,690.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph David Davis sold 2,907 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $12.05, for a total transaction of $35,029.35. Following the sale, the insider now owns 35,126 shares of the company’s stock, valued at approximately $423,268.30. The disclosure for this sale can be found here. Insiders sold 208,309 shares of company stock valued at $2,619,592 over the last three months. Insiders own 24.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in New Home during the 3rd quarter worth about $121,000. Tower Research Capital LLC TRC boosted its stake in shares of New Home by 602.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,350 shares of the construction company’s stock valued at $142,000 after purchasing an additional 9,735 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of New Home in the 4th quarter valued at about $143,000. The Manufacturers Life Insurance Company boosted its stake in shares of New Home by 1,390.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,786 shares of the construction company’s stock valued at $148,000 after purchasing an additional 10,995 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of New Home in the 3rd quarter valued at about $163,000. Institutional investors and hedge funds own 56.50% of the company’s stock.
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About New Home
The New Home Company Inc is a homebuilding company. The Company focuses on the design, construction and sale of consumer-driven homes in various metropolitan areas within certain markets in California and Arizona, including coastal Southern California, the San Francisco Bay area, metro Sacramento and the greater Phoenix area.
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