JPMorgan Chase & Co. Lowers Green Brick Partners (NASDAQ:GRBK) to Underweight

JPMorgan Chase & Co. lowered shares of Green Brick Partners (NASDAQ:GRBK) from a neutral rating to an underweight rating in a research note issued to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has $11.00 price target on the financial services provider’s stock.

A number of other research firms have also weighed in on GRBK. BTIG Research upgraded Green Brick Partners from a neutral rating to a buy rating and set a $13.00 target price on the stock in a report on Monday, September 23rd. BidaskClub upgraded Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, November 13th. Zacks Investment Research upgraded Green Brick Partners from a hold rating to a strong-buy rating and set a $13.00 target price on the stock in a report on Wednesday, November 13th. Finally, TheStreet upgraded Green Brick Partners from a c rating to a b- rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Green Brick Partners has an average rating of Buy and a consensus target price of $10.86.

GRBK stock opened at $11.47 on Monday. Green Brick Partners has a twelve month low of $6.65 and a twelve month high of $11.75. The company has a quick ratio of 0.80, a current ratio of 8.93 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $10.98 and its 200-day moving average is $9.90. The firm has a market capitalization of $579.35 million, a PE ratio of 9.64 and a beta of 1.25.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Thursday, November 7th. The financial services provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. Green Brick Partners had a return on equity of 12.05% and a net margin of 7.51%. The company had revenue of $209.40 million for the quarter, compared to analyst estimates of $174.00 million. On average, equities research analysts anticipate that Green Brick Partners will post 1.08 earnings per share for the current fiscal year.

In related news, Director Kathleen Olsen sold 4,000 shares of Green Brick Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $11.27, for a total transaction of $45,080.00. Following the sale, the director now directly owns 57,164 shares in the company, valued at $644,238.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Summer Loveland sold 5,300 shares of Green Brick Partners stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.63, for a total value of $56,339.00. Following the sale, the chief accounting officer now owns 5,209 shares in the company, valued at $55,371.67. The disclosure for this sale can be found here. Company insiders own 52.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Green Brick Partners by 8.8% during the second quarter. BlackRock Inc. now owns 1,600,725 shares of the financial services provider’s stock worth $13,302,000 after acquiring an additional 129,445 shares during the period. Vanguard Group Inc. raised its stake in shares of Green Brick Partners by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,204,138 shares of the financial services provider’s stock valued at $10,006,000 after buying an additional 45,698 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Green Brick Partners in the second quarter valued at $4,690,000. Northern Trust Corp raised its stake in shares of Green Brick Partners by 3.7% in the second quarter. Northern Trust Corp now owns 279,449 shares of the financial services provider’s stock valued at $2,322,000 after buying an additional 9,847 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Green Brick Partners by 4,546.4% in the third quarter. Russell Investments Group Ltd. now owns 261,641 shares of the financial services provider’s stock valued at $2,800,000 after buying an additional 256,010 shares during the period. Institutional investors and hedge funds own 82.35% of the company’s stock.

About Green Brick Partners

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

Analyst Recommendations for Green Brick Partners (NASDAQ:GRBK)

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