JPMorgan Chase & Co. Reiterates Neutral Rating for New Home (NWHM)

New Home (NYSE:NWHM)‘s stock had its “neutral” rating reiterated by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday. They currently have a $13.00 price target on the construction company’s stock, up from their previous price target of $12.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 12.55% from the company’s previous close.

NWHM has been the topic of several other research reports. ValuEngine raised shares of New Home from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of New Home from a “strong sell” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, JMP Securities downgraded shares of New Home from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th.

New Home (NYSE:NWHM) traded up $0.07 on Tuesday, hitting $11.55. 43,815 shares of the company were exchanged, compared to its average volume of 106,280. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a market capitalization of $243.84, a P/E ratio of 14.00 and a beta of 1.69. New Home has a one year low of $9.75 and a one year high of $13.55.

New Home (NYSE:NWHM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $324.10 million for the quarter, compared to the consensus estimate of $295.04 million. New Home had a net margin of 2.28% and a return on equity of 8.39%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. research analysts predict that New Home will post 1.18 EPS for the current fiscal year.

In related news, insider Joseph David Davis sold 30,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $12.43, for a total value of $372,900.00. Following the sale, the insider now owns 35,126 shares in the company, valued at $436,616.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lp Tcn/Tnhc sold 18,599 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $11.73, for a total transaction of $218,166.27. The disclosure for this sale can be found here. Insiders sold 348,130 shares of company stock worth $4,315,073 in the last 90 days. 24.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in New Home by 3.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 16,549 shares of the construction company’s stock valued at $190,000 after acquiring an additional 500 shares during the last quarter. Northern Trust Corp increased its position in New Home by 3.3% during the second quarter. Northern Trust Corp now owns 144,687 shares of the construction company’s stock valued at $1,660,000 after acquiring an additional 4,603 shares during the last quarter. Teachers Advisors LLC increased its position in New Home by 28.6% during the second quarter. Teachers Advisors LLC now owns 25,781 shares of the construction company’s stock valued at $296,000 after acquiring an additional 5,737 shares during the last quarter. Wells Fargo & Company MN increased its position in New Home by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 604,548 shares of the construction company’s stock valued at $7,575,000 after acquiring an additional 5,971 shares during the last quarter. Finally, State Street Corp increased its position in New Home by 4.4% during the second quarter. State Street Corp now owns 198,475 shares of the construction company’s stock valued at $2,276,000 after acquiring an additional 8,282 shares during the last quarter. Institutional investors and hedge funds own 56.59% 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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