Texas Capital Securities Starts Beazer Homes (BZH) at Buy

Texas Capital Securities analyst Alex Rygiel initiates coverage on Beazer Homes (NYSE: BZH) with a Buy rating and a price target of $25.00.

The analyst comments "Beazer Homes is a small-cap homebuilder with operations in 13 states within the West, East and Southeast regions. It is the first public homebuilder with essentially all new starts being built to the DOE’s Zero Energy Ready Home standard, offering customers a comfortable, energy efficient home with lower cost of ownership longer-term, but still at affordable prices. After a decade of working towards its goal of reducing debt to below $1B by the end of FY22, the company maintained its balanced growth strategy and in FY23 began investing more in its land/lots and growing its community count. We anticipate moderate growth long-term from Beazer with valuation multiple expansion as balance sheet leverage declines closer to peer averages. While we do not expect BZH to be immune from macro industry trends, we believe the homebuilder should outperform most peers particularly as it de-levers the balance sheet."

For an analyst ratings summary and ratings history on Beazer Homes click here. For more ratings news on Beazer Homes click here.

Shares of Beazer Homes closed at $21.49 yesterday.

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