BBX Capital Corporation Receives a Buy from B.Riley FBR

B.Riley FBR analyst Mike Crawford initiated coverage with a Buy rating on BBX Capital Corporation (NYSE: BBX) on May 4 and set a price target of $14.50. The company’s shares opened today at $9.28.

Crawford commented:

“We again defer from adjusting our model until after that time but continue to believe the company’s successful $60M tender in particular will be accretive to our sum-of-the- parts analysis, given the significant disconnect between where BBX trades and what we see as its Net Asset Value. In this regard, while BBX at $9.76/share wields just a $938M EV, its Bluegreen stake alone marks to $1.53B stake, or $14.92/share based on the 6.5M reduction in BBX shares outstanding.”

According to TipRanks.com, Crawford is a 4-star analyst with an average return of 6.9% and a 55.0% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as CPI Aerostructures, Finjan Holdings, and Kratos Defense.

BBX Capital Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $14.50.

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The company has a one-year high of $10.17 and a one-year low of $5.87. Currently, BBX Capital Corporation has an average volume of 294.6K.

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BBX Capital Corp. is a holding company, which engages in the real estate, real estate joint ventures, and middle market operating businesses. It operates through the following segments: Bluegreen, BBX Capital Real Estate, Renin, and BBX Sweet Holdings.