Business & Investment

Experts advise you to grab a stock of Green Brick. why?

The stock market was hit hard in 2020. The Covid-19 pandemic has pushed many stocks into the red.But the homebuilding industry thrived despite all the difficulties World economy. People left the city to avoid the coronavirus and headed straight to the suburbs and exurbs. The migration has increased the demand for single-family homes.

Green Brick is one of the land development and housing acquisition companies that has benefited from such developments. Based in Texas, we are investing in real estate. After the investment, the company will provide parcels and construction funds for development projects.

Suburban expanse has been good for GreenBrick in general as well as in the past year. The company’s third-quarter revenue reached $ 275.8 million, the best result in over a year. It was 20% higher than expected, up 31% year-on-year. EPS also performed well in the third quarter. That was 68 cents, which exceeded analysts’ expectations of 54%.

Thanks to good reports, stock prices are rising with Greenbrick’s financial outlook. GRBK increased by 111% in 2020.

What do analysts say about stocks?

Aaron Hecht, a JMP analyst, believes Green Brick will take advantage of the tendency of apartment renters to move to single-family homes for safety. However, the most important cohort shift in the buyer’s pool is the millennials who are off the sidelines of buying a home. He believes the trend has a multi-year runway.

In the case of Greenbrick, millennial demand trends are increasing given the large exposure to these markets, which are the net beneficiaries of the migration of citizens from expensive coastal areas.

Hecht evaluated this stock as a buy. His $ 30 price target means a 23% profit over the next 12 months. Other analysts agree with Hecht. Green Brick’s average price target is $ 27.5, which could be up 12.5% ​​from the current $ 24.45.

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Experts advise you to grab a stock of Green Brick. why? Experts advise you to grab a stock of Green Brick. why?

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