Green Brick Partners (NASDAQ:GRBK) Sets New 1-Year High – What’s Next?

Green Brick Partners, Inc. (NASDAQ:GRBK)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $84.66 and last traded at $84.59, with a volume of 175387 shares traded. The stock had previously closed at $81.58.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GRBK shares. B. Riley boosted their price objective on Green Brick Partners from $62.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $60.00 target price (up from $53.00) on shares of Green Brick Partners in a research report on Monday, August 5th.

Green Brick Partners Price Performance

The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.68 and a beta of 1.80. The company has a 50-day moving average price of $77.62 and a 200-day moving average price of $65.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 8.28.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.55. Green Brick Partners had a return on equity of 25.42% and a net margin of 17.78%. The company had revenue of $560.63 million during the quarter, compared to analyst estimates of $501.51 million. During the same period in the previous year, the company earned $1.63 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that Green Brick Partners, Inc. will post 8.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Green Brick Partners

Several institutional investors and hedge funds have recently modified their holdings of GRBK. Vanguard Group Inc. grew its position in shares of Green Brick Partners by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock valued at $124,855,000 after purchasing an additional 237,463 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Green Brick Partners by 5.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 30,158 shares of the financial services provider’s stock valued at $1,816,000 after purchasing an additional 1,592 shares during the period. GAMMA Investing LLC grew its position in shares of Green Brick Partners by 37.4% in the 1st quarter. GAMMA Investing LLC now owns 1,577 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 429 shares during the period. Salem Investment Counselors Inc. grew its position in shares of Green Brick Partners by 1.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 737,138 shares of the financial services provider’s stock valued at $44,398,000 after purchasing an additional 12,035 shares during the period. Finally, Security National Bank grew its position in shares of Green Brick Partners by 258.3% in the 1st quarter. Security National Bank now owns 73,674 shares of the financial services provider’s stock valued at $4,437,000 after purchasing an additional 53,114 shares during the period. 78.24% of the stock is currently owned by institutional investors and hedge funds.

About Green Brick Partners

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.