ValuEngine Upgrades New Home (NWHM) to “Buy”

ValuEngine upgraded shares of New Home (NYSE:NWHM) from a hold rating to a buy rating in a research report report published on Sunday.

Several other brokerages have also issued reports on NWHM. JPMorgan Chase reissued a neutral rating and set a $13.00 target price (up from $12.00) on shares of New Home in a research note on Tuesday, February 20th. Zacks Investment Research downgraded shares of New Home from a hold rating to a sell rating in a report on Friday, February 23rd. Finally, JMP Securities downgraded shares of New Home from an outperform rating to a market perform rating in a report on Thursday, February 15th.

Shares of NYSE NWHM opened at $10.77 on Friday. The firm has a market cap of $226.10, a P/E ratio of 11.10 and a beta of 1.62. New Home has a 12-month low of $9.75 and a 12-month high of $13.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.40 and a current ratio of 2.40.



New Home (NYSE:NWHM) last issued its earnings results on Wednesday, February 14th. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $324.10 million for the quarter, compared to analyst estimates of $295.04 million. New Home had a net margin of 2.28% and a return on equity of 8.39%. New Home’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. equities research analysts predict that New Home will post 1.03 earnings per share for the current fiscal year.

In other New Home news, insider Joseph David Davis sold 2,907 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $12.05, for a total transaction of $35,029.35. Following the transaction, the insider now owns 35,126 shares in the company, valued at $423,268.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 24.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in New Home during the third quarter worth $121,000. Tower Research Capital LLC TRC raised its holdings in New Home by 602.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,350 shares of the construction company’s stock worth $142,000 after buying an additional 9,735 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of New Home in the fourth quarter valued at about $143,000. The Manufacturers Life Insurance Company raised its holdings in shares of New Home by 1,390.0% in the fourth 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. purchased a new stake in shares of New Home in the third quarter valued at about $163,000. Hedge funds and other institutional investors 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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