Green Brick Partners (NASDAQ:GRBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm presently has a $29.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.17% from the company’s current price.
According to Zacks, “Green Brick Partners, Inc. is involved in the land acquisition and development, entitlements, design, construction, marketing and sale of residential projects. It operates primarily in Dallas, Fort Worth, Texas, Atlanta and Georgia. Green Brick Partners, Inc., formerly known as BioFuel Energy Corp, is based in Plano, Texas. “
Separately, B. Riley increased their price target on Green Brick Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Green Brick Partners currently has an average rating of “Buy” and an average target price of $29.60.
GRBK stock traded down $0.34 during trading hours on Friday, hitting $25.18. 342,051 shares of the stock traded hands, compared to its average volume of 788,604. The firm has a 50-day moving average of $23.02. Green Brick Partners has a one year low of $13.83 and a one year high of $28.03. The firm has a market capitalization of $1.28 billion, a P/E ratio of 9.03 and a beta of 1.31. The company has a current ratio of 6.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35.
Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Monday, August 2nd. The financial services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.17. Green Brick Partners had a return on equity of 21.96% and a net margin of 12.51%. On average, equities research analysts anticipate that Green Brick Partners will post 3.32 earnings per share for the current year.
In other Green Brick Partners news, Director John R. Farris acquired 4,200 shares of Green Brick Partners stock in a transaction that occurred on Tuesday, May 18th. The stock was purchased at an average cost of $22.73 per share, with a total value of $95,466.00. Following the purchase, the director now owns 140,828 shares in the company, valued at $3,201,020.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry Brandler acquired 10,000 shares of Green Brick Partners stock in a transaction that occurred on Tuesday, May 11th. The stock was acquired at an average cost of $23.03 per share, with a total value of $230,300.00. Following the completion of the purchase, the director now owns 17,658 shares in the company, valued at approximately $406,663.74. The disclosure for this purchase can be found here. Company insiders own 53.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Green Brick Partners by 26.3% during the 1st quarter. BlackRock Inc. now owns 3,941,344 shares of the financial services provider’s stock worth $89,390,000 after purchasing an additional 821,247 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Green Brick Partners by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,641,428 shares of the financial services provider’s stock worth $37,689,000 after purchasing an additional 8,392 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Green Brick Partners during the 1st quarter worth about $32,161,000. Geode Capital Management LLC raised its stake in shares of Green Brick Partners by 21.7% during the 1st quarter. Geode Capital Management LLC now owns 705,944 shares of the financial services provider’s stock worth $16,010,000 after purchasing an additional 125,786 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Green Brick Partners by 5.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 609,131 shares of the financial services provider’s stock worth $13,815,000 after purchasing an additional 33,190 shares in the last quarter. 84.57% of the stock is owned by institutional investors.
Green Brick Partners Company Profile
Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in three segments: Builder operations Central, Builder operations Southeast, and Land development. The company is involved in the land acquisition and development, entitlements, design, construction, title and mortgage services, marketing, and sale of townhomes, patio homes, single family homes, and luxury semi-custom homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.
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