Green Brick Partners (GRBK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Green Brick Partners (NASDAQ:GRBK) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Zacks.com reports.

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. “

A number of other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Green Brick Partners from a buy rating to a hold rating in a research report on Tuesday, March 19th. Citigroup increased their target price on shares of Green Brick Partners from $9.00 to $10.50 and gave the company a buy rating in a research report on Friday, March 8th. TheStreet raised shares of Green Brick Partners from a c rating to a b- rating in a research report on Tuesday, March 5th. JMP Securities reissued a buy rating and set a $11.50 target price on shares of Green Brick Partners in a research report on Wednesday, March 6th. Finally, BTIG Research assumed coverage on shares of Green Brick Partners in a research report on Wednesday, February 6th. They set a neutral rating and a $9.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $9.57.

Green Brick Partners stock opened at $9.25 on Friday. Green Brick Partners has a twelve month low of $6.65 and a twelve month high of $12.50. The company has a market cap of $467.82 million, a PE ratio of 6.75 and a beta of 1.69.

Green Brick Partners (NASDAQ:GRBK) last released its earnings results on Monday, March 4th. The financial services provider reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. Green Brick Partners had a net margin of 8.35% and a return on equity of 14.98%. The firm had revenue of $185.12 million during the quarter, compared to the consensus estimate of $147.94 million. On average, sell-side analysts anticipate that Green Brick Partners will post 0.96 earnings per share for the current fiscal year.

In other Green Brick Partners news, Director John R. Farris acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $8.70 per share, with a total value of $174,000.00. Following the acquisition, the director now owns 93,570 shares in the company, valued at $814,059. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry Brandler acquired 6,021 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $9.21 per share, with a total value of $55,453.41. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 40,197 shares of company stock valued at $359,873. 52.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in Green Brick Partners by 40.7% in the 4th quarter. Rhumbline Advisers now owns 36,654 shares of the financial services provider’s stock worth $265,000 after buying an additional 10,610 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Green Brick Partners in the 4th quarter worth approximately $289,000. First Trust Advisors LP boosted its holdings in Green Brick Partners by 18.7% in the 4th quarter. First Trust Advisors LP now owns 43,881 shares of the financial services provider’s stock worth $318,000 after buying an additional 6,903 shares during the period. Bank of America Corp DE boosted its holdings in Green Brick Partners by 38.5% in the 4th quarter. Bank of America Corp DE now owns 52,436 shares of the financial services provider’s stock worth $380,000 after buying an additional 14,568 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its holdings in Green Brick Partners by 58.8% in the 4th quarter. Virginia Retirement Systems ET AL now owns 59,700 shares of the financial services provider’s stock worth $432,000 after buying an additional 22,100 shares during the period. 81.00% 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 Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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